Braime Group PLC Update (3585B)

TIDMBMTO

RNS Number : 3585B

Braime Group PLC

30 January 2020

Braime Group PLC

("Braime" or the "Company")

Update

The Company confirms it subsidiary 4B France sarl ("4B France") has outgrown its current premises in Lamotte-Warfusee and will, in due course, be relocating to brand new modern facilities in the nearby town of Villers-Bretonneux, 6km away.

4B France has recently concluded the land purchase from the council of Viller-Bretonneux for approximately EUR98,000 and construction of the office and warehouse will commence in February 2020. It is anticipated that this will complete in February 2021 and further updates will be provided as appropriate.

The total cost of the land and buildings will be EUR2.2m, which is to be funded from existing cash resources and bank facilities. In addition, Credit du Nord bank and BPI-France are jointly providing a loan of EUR1.7m repayable over 15 years at an interest rate of 1.3%.

For further information please contact:

Nicholas Braime/Cielo Cartwright

0113 245 7491

W. H. Ireland Limited

Katy Mitchell

0113 394 6628

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January 30, 2020 02:01 ET (07:01 GMT)