Stride Gaming PLC Refinancing of existing loan (2604P)

TIDMSTR

RNS Number : 2604P

Stride Gaming PLC

15 November 2016

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 GBP8.0 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 GBP8.0 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)        + 44 (0) 20 
    Ronen Kannor (Chief Financial Officer)       7284 6080 
   Canaccord Genuity Limited 
    (Financial Adviser, Nominated Adviser 
    and Joint Broker) 
    Bruce Garrow 
    Emma Gabriel                                [phone] 
    Richard Andrews                              8000 
   Shore Capital 
    (Joint Broker) 
    Simon Fine 
    Mark Percy                                   +44 (0) 20 
    Toby Gibbs                                    7408 4090 
 
     Yellow Jersey PR                           +44 (0) 7825 
     (Financial PR)                              916 715 
     Alistair de Kare-Silver                     +44 (0) 7748 
     Felicity Winkles                            843 871 
 

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

This information is provided by RNS

The company news service from the London Stock Exchange

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November 15, 2016 11:33 ET (16:33 GMT)