Orbit Capital PLC Loan to Swan Group (7128C)

TIDM44EK

RNS Number : 7128C

Orbit Capital PLC

13 October 2022

ORBIT CAPITAL PLC RNS

LOAN TO SWAN GROUP

13 October 2022

In connection with the partnership discussions between Orbit Group Limited ("Orbit") and Swan Housing Association Limited ("Swan"), Orbit granted a 1-year secured loan facility in January 2022 of GBP25m, which was subsequently increased to GBP40m in March 2022 (the "Loan"). The Loan is fully drawn and is fully secured with typical asset cover requirements.

Orbit is in discussions with Swan in relation to the repayment of the Loan, including the proposal that Sanctuary would re-finance the Loan as part of the potential merger between Swan and Sanctuary. Orbit will continue to monitor developments in respect of the merger between Swan and Sanctuary and will reassess its position in light of any adverse developments.

Orbit reserves all of its rights, powers, claims and remedies available to it under the Loan Agreement and applicable law. No delay or forbearance by Orbit to exercise any right or remedy under the terms of the Loan Agreement or related security document shall impair any such right or remedy or constitute a waiver thereof or an acquiescence thereto.

ENDS

For further information please contact: Lisa Astle, Director of Communications and Brand [e-mail] 07775 633957

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCDLLFFLBLLFBV

(END) Dow Jones Newswires

October 13, 2022 02:00 ET (06:00 GMT)