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PTSG Premier Technical Services Group Plc

214.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Premier Technical Services Group Plc LSE:PTSG London Ordinary Share GB00BV9FPW93 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 214.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Premier Technical Services Grp PLC Increased banking facilities (5109K)

10/07/2017 7:00am

UK Regulatory


Premier Technical Services (LSE:PTSG)
Historical Stock Chart


From Mar 2019 to Mar 2024

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TIDMPTSG

RNS Number : 5109K

Premier Technical Services Grp PLC

10 July 2017

10 July 2017

Premier Technical Services Group plc

("PTSG" or the "Group")

Increased banking facilities agreed with HSBC PLC ("HSBC")

GBP12,000,000 Revolving Credit Facility ("RCF") and GBP8,000,000 overdraft facility

PTSG, the niche specialist services provider, is pleased to announce that it has extended its banking facilities with HSBC.

The RCF has been increased from GBP10.0m to GBP12.0m with the expiry date remaining unchanged at September 2020. The overdraft facility has also been increased, from GBP4.0m to GBP8.0m.

Both new facilities are provided at the same interest rate and covenant tests as under the previous facility. Drawn amounts under the RCF attract a variable margin over LIBOR, based on the Group's Net Debt/EBITDA ratio. Undrawn amounts attract a commitment fee.

John Foley, Chairman of PTSG, said:

"The acquisition of Brooke Edgley (Industrial Chimneys) Ltd ("BEST") which was announced on 4 July 2017 involved an initial cash consideration of GBP14 million which was entirely financed from the proceeds of a GBP15 million placing of new ordinary shares to investors. However, this acquisition substantially increases the scale of the Group and so we are pleased to announce increased facilities with HSBC who have been the Group's bankers since our formation in 2007. These facilities provide us with sufficient levels of headroom to continue to grow both organically and through carefully selected acquisitions."

For further information, please contact:

 
PTSG                                                 +44 (0)1977 668 771 
Paul Teasdale, Chief Executive Officer 
Numis Securities                                     +44 (0) 207 260 1000 
Stuart Skinner / Kevin Cruickshank / Michael Burke 
Hudson Sandler                                       +44 (0)207 796 4133 
Charlie Jack 
 

About PTSG - www.ptsg.co.uk

Premier Technical Services Group PLC is the UK's leading provider of façade access and fall arrest equipment services, lightning protection and electrical testing, high-level cleaning and training solutions.

Operating through four divisions, Access & Safety, Electrical Services, High Level Cleaning and Training Solutions, the Group provides highly-engineered industrial products and quality services and has a substantial presence in a number of niche markets.

PTSG provides a central information service for its businesses and champions the dissemination of key information and best practice. PTSG unites its constituent businesses under one clear identity, which supports smarter working and delivers top class service to its customers.

Headquartered in Castleford, West Yorkshire, the Group employs more than 600 people across 17 UK sites, who service more than 150,000 buildings across the whole of the UK for over 17,000 customers in a wide range of industries. The Company is listed on the LSE AIM (PTSG.L)

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCQDLFBDDFFBBV

(END) Dow Jones Newswires

July 10, 2017 02:00 ET (06:00 GMT)

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