Volex Regulatory News (VLX)

13 Dec 2006 07:01

Volex Group PLC13 December 2006 13 December 2006 VOLEX GROUP plc New three year banking facilities We are very pleased to announce that we have entered into a new three yearUS$76m multicurrency revolving credit facility for the Group with Lloyds TSB onimproved terms that provide greater operational flexibility. This refinancingreflects the financial strength of the Group following the equity placing inJune 2005 and the subsequent trading results that have demonstrated asignificant recovery in the Group's health. The new facilities replace the current facilities provided by Barclays, TheRoyal Bank of Scotland and Bank of America that were due to expire in June 2008. In accordance with IAS39, the refinancing will result in an immediate write-offof £1.5m unamortised refinancing fees on the current facilities through theinterest charge and we will be expecting to amortise costs incurred in arrangingthe new facilities and estimated at a similar amount, over the duration of thenew agreement. Richard ArkleChairman13 December 2006 For further information please contact: Volex Group plc 01925 830101Heejae Chae, Group Chief ExecutiveDerek Walter, Group Finance Director Weber Shandwick Square Mile 020 7067 0700Chris Lynch / Nick Dibden This information is provided by RNS The company news service from the London Stock Exchange