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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Metalrax Group | LSE:MRX | London | Ordinary Share | GB0005838247 | 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% | 3.125 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMMRX
RNS Number : 0383Y
Metalrax Group PLC
24 February 2012
Metalrax Group PLC ("Metalrax" or "The Group")
New Banking Facilities
Metalrax, the niche supplier of specialist engineering and consumer durable products, announces that it has successfully completed its bank facility refinancing on improved terms and ahead of the maturity of its existing facilities in August 2012.
The Group has agreed facilities up to GBP14m for 4 years with The Royal Bank of Scotland. The new facilities will result in reduced borrowing costs saving the Group c.GBP300,000 per annum (based on current levels of indebtedness). The facilities, being mainly provided by the Bank's asset based lending team, are secured against the properties, the debtor ledger, plant and machinery as well as inventory.
Commenting on the announcement, Metalrax Group Chief Executive, Andrew Richardson said:
"This is a very important milestone for the Group. The new facilities have been agreed ahead of schedule and on competitive terms. Completion of this refinancing provides a stable platform in challenging times with unpredictable economic conditions. The Group's priorities are to achieve growth whilst continuing to reduce borrowings.
Metalrax will announce final results for the year ended 31 December 2011 on Monday 19 March 2012.
Enquiries:
Metalrax Group PLC +44 (0)845 030 3300
Andrew Richardson, Chief Executive
Caroline Green, Group Finance Director
Arden Partners plc
Steve Douglas +44 (0)121 423 8943
Jamie Cameron +44 (0)207 614 5925
This information is provided by RNS
The company news service from the London Stock Exchange
END
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