Extension of On Demand Bank Facility (7227D)

TIDMDAV

RNS Number : 7227D

Davenham Group PLC

28 March 2011

28 March 2011

Davenham Group plc

("Davenham" or the "Company" and, together with its subsidiaries, the "Group")

Extension of On Demand Bank Facility

Davenham today announces that its Banking Syndicate has agreed to extend the Group's current on demand bank facility, which was due to mature on 31 March 2011, until 30 September 2011.

The extension of the facility preserves a stable platform for the Group to continue to run-off its loan book over the next six months whilst enabling it to access the required levels of working capital to meet its day to day liabilities as they fall due.

All terms associated with the facility remain unchanged.

Paul Burke, Group Managing Director, commented:

"The Banking Syndicate continues to support the current management team enabling it actively to pursue the collection of the Group's loan books in a prudent and orderly manner."

Further announcements will be made as appropriate.

For further information please contact:

 
 Davenham Group plc                             0161 832 8484 
  Paul Burke, Group Managing Director      www.davenham.co.uk 
 Hawkpoint Partners Limited (Nominated 
  Adviser) 
  Lawrence Guthrie / Shaun Holmes               020 7665 4642 
 MHP 
  Katie Hunt / Reg Hoare                        020 3128 8100 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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