Bank Loan Facility

30 Jul 2007 07:01

Spiritel PLC30 July 2007 30 July 2007 SPIRITEL plc ("Spiritel" or "the Group") BANK LOAN FACILITY NEW £1.375 MILLION COMMITTED BANKING FACILITY TO SUPPORT ACQUISITION STRATEGY Spiritel plc (AIM: STP), the telecommunications services business, todayannounces that it has entered into a new £1.375 million committed bankingfacility agreement with Clydesdale Bank PLC to support the Company's ongoingacquisition programme. Commenting on the new facility Ronnie Smith, Spiritel Finance Director said: "Weare delighted to have gained the support of Clydesdale Bank to build on ourrecent successes in making earnings-enhancing acquisitions. Securing a seniordebt facility marks a significant step for Spiritel as we seek to reduce thecost of our capital and continue to restore shareholder value. He added: "The facility supports our plans for the acquisitive and organicgrowth that will deliver a broadening range of traditional and IP basedcommunications services to a growing business customer base. In line with thisstrategy, we expect to be able to announce further acquisitions in due course." For further information please visit www.spiritelplc.com or contact: Spiritel plc Tavistock CommunicationsAlastair Mills Simon HudsonChief Executive Clemmie CarrTel: +44 20 7160 0100 Tel: +44 20 7920 3150 This information is provided by RNS The company news service from the London Stock Exchange