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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Mar City | LSE:MAR | London | Ordinary Share | GB00BH2RFN56 | ORD 2.5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 36.25 | 0.00 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Jan 2020 to Jan 2025
TIDMMAR
RNS Number : 9560N
Mar City PLC
01 August 2014
MAR CITY PLC
('Mar City', 'the Group' or 'the Company')
New debt facility
Mar City (AIM: MAR.L), the London and Midlands housebuilder, announces the signing of a five year GBP40m Revolving Loan Facility with HSBC Bank Plc.
Mar City is delighted to report that following the transformational equity raise completed in December 2013 and the excellent progress made in the first half of this year, it has today signed a five year GBP40m Revolving Loan Facility with HSBC Bank PLC.
This new debt facility will enable the Group to continue executing its strategy of delivering high quality new homes in its core geographies of the Midlands, London and the South East and generate further significant growth.
Additionally, the new facility will enable the Group to deliver its target to build a 3 to 5 year land bank. Mar City continues to review a range of strong opportunities which meet its minimum margin intake requirements and will continue to add to its land bank during the second half of the year and expects to achieve its target of securing at least 3,000 plots by the end of the year.
Commenting, Tony Ryan, Chief Executive of Mar City, said:
"We are absolutely delighted to have secured the ongoing support of HSBC and to have signed this significant credit facility. This will enable us to continue to deliver the significant growth we have planned, to further develop our new modular construction technology and to deliver our target of securing at least 3,000 plots by the end of the year."
Ends
Hot Features
Premium
Enquiries:
Mar City PLC www.marcityplc.com www.marcityhomes.com
Tony Ryan, Chief Executive +44 (0) 20 7408 1102
Marcus Jones, Finance Director
Shore Capital, Nomad and Joint
Broker
Pascal Keane / Jamie Cameron +44 (0)20 7408 4090
Gable Communications marcity@gablecommunications.com
John Bick / Justine James +44 (0) 20 7193 7463
+44 (0) 7872 061 007
This information is provided by RNS
The company news service from the London Stock Exchange
END
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