Utilitywise plc Amendments to banking facility agreement (5605D)

TIDMUTW

RNS Number : 5605D

Utilitywise plc

01 February 2018

1 February 2018

Utilitywise plc

("Utilitywise" or "the Group")

Amendments to banking facility agreement

The Board of Directors of Utilitywise plc (AIM:UTW), a leading independent utility cost management consultancy, is pleased to announce that the Group has agreed amendments to its banking facility agreement. The new terms align the banking facility with the non-cash accounting changes anticipated in the financial statements of the Group for the year ended 31 July 2017 and beyond, as outlined in the announcements on 17 January 2018 and 29 January 2018.

The Group currently has a GBP25m revolving credit facility with a single bank lender, which is due to expire in April 2019. The amended facility has replaced the leverage covenant with a cash-flow based liquidity covenant, which is based upon forecasts that have been shared with the bank in respect of the Group's plans for cash generation over the coming months.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014

For further information

 
 Utilitywise plc                           0330 303 0233 
 Brendan Flattery (CEO) 
 Richard Laker (CFO) 
 
 
 finnCap (NOMAD and broker)                020 7220 0500 
 Matt Goode / Henrik Persson (Corporate 
  Finance) 
 Simon Johnson (Corporate Broking) 
 
  Liberum (Joint broker)                     020 3100 2000 
 Robert Morton / Steve Pearce 
 Redleaf Communications                    020 3757 6865 
 Robin Tozer / Elisabeth Cowell 
 

Utilitywise is a leading independent utility cost management consultancy, which has established trading relationships with a number of major UK and European energy suppliers and provides services to its customers designed to assist them in achieving better value out of their energy contracts, reduced energy consumption and lower carbon footprint. Utilitywise is a UK company quoted on the AIM market of the London Stock Exchange. For more information, please visit www.utilitywise.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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February 01, 2018 02:00 ET (07:00 GMT)