ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

AD. Adl

50.00
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Adl LSE:AD. London Ordinary Share GB0005739999 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 50.00 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Re Agreement

04/05/2006 10:19am

UK Regulatory


    ADL plc                                    

                   New Bank Facility and Portfolio Valuation                   

ADL plc ("ADL"), the AIM listed long term healthcare provider, which currently
owns and operates nine care homes, with 311 operational beds, and manages a
further two care homes, with 63 operational beds, on a partnership or joint
venture basis is pleased to announce that today it signed a new £25 million
Facility Agreement with IXIS Corporate & Investment Bank S.A. ("the Facility").

The Facility will be initially used, up to a maximum aggregate amount of £11
million:

* To refinance ADL's existing borrowings with Fortis Bank S.A./N.V.;

* To finance the acquisitions of two 40 bed homes, for which conditional
  contracts are expected to be signed shortly; and

* To pay the costs and fees relating to the Facility and the proposed
  acquisitions.

The balance of the Facility is available to ADL for further acquisitions, as
they are identified, subject in each case to the prior approval of IXIS
Corporate & Investment Bank.

A key feature of the Facility is a reduction in the interest rate margin from
the current 1.5% over LIBOR to 1.00% over LIBOR subject to cash flow cover.

The Facility required ADL to have its portfolio of care homes re-valued by
Christie & Co at 31 March 2006. The 9 freehold care homes, the South Garth
Residential Care Partnership and the joint venture with Newford Limited, were
valued on a portfolio basis, at £14.377 million (31 March 2005: £13 million)
resulting in a valuation surplus of £1.377 million which has been credited to
revaluation reserve. On this basis, the Directors of ADL estimate that the net
assets per share at 31 March 2006 were approximately 82p (31 March 2005: 68.7p
per share).

For further information please contact:

Richard Ellert, Commercial Director, ADL plc, Tel: 0113 239 2957

John Wakefield, Rowan Dartington & Co. Limited, Tel: 0117 933 0020



END


1 Year Adl Chart

1 Year Adl Chart

1 Month Adl Chart

1 Month Adl Chart

Your Recent History

Delayed Upgrade Clock