15 Nov 2016 16:33
15 November 2016
Stride Gaming plc
("Stride Gaming", or the "Company")
Refinancing of existing loan
Stride Gaming plc (AIM:STR), the multi-branded online soft gaming operator, is pleased to announce that further to the Company's announcement on 29 July 2016, which stated that the Company was in discussions with a tier one bank regarding the refinancing of its existing loan, it has today entered into an £8.0 million loan facility with Barclays Bank PLC ("Barclays").
This committed facility with Barclays will refinance the existing loan extended to the Company by its shareholder, Poppy Investments Limited. The £8.0 million Barclays facility matures four years from the date of the initial drawdown on a 3.6 per cent plus LIBOR annual floating rate basis payable quarterly, with the principal sum outstanding amortising on a quarterly basis over the term of the facility.
Eitan Boyd, Chief Executive of Stride Gaming, commented:
"The loan facility with Barclays is another important step in Stride Gaming's successful journey as a public company and is a major endorsement of our strategy. Achieving financing from a tier one bank further enhances our ability to pursue our organic and acquisitive growth strategy and to deliver value for shareholders."
Enquiries:
Stride Gaming plc Nigel Payne (Non-Executive Chairman) Eitan Boyd (Chief Executive Officer) Ronen Kannor (Chief Financial Officer) | + 44 (0) 20 7284 6080
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Canaccord Genuity Limited (Financial Adviser, Nominated Adviser and Joint Broker) Bruce Garrow Emma Gabriel Richard Andrews | +44 (0) 20 7523 8000 |
Shore Capital (Joint Broker) Simon Fine Mark Percy Toby Gibbs | +44 (0) 20 7408 4090
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Yellow Jersey PR (Financial PR) Alistair de Kare-Silver Felicity Winkles | +44 (0) 7825 916 715 +44 (0) 7748 843 871
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About Stride Gaming plc:
Stride Gaming is an online gaming operator in the bingo-led and the global social gaming market. The Company operates a multi-branded strategy across its two verticals, and uses its own proprietary and purchased software to provide online bingo and slot gaming for its players, and a social gaming mobile application. Stride Gaming's real money offering is presently focused on the UK market, is licensed and only operates from the regulated jurisdictions of the UK and Alderney. The Company's players' reach is international in the mobile social gaming market with a focus on the North American market.
Further information on the Group is available at: www.stridegaming.com