Barkby Group PLC Update on debt refinancing and CSS (3158X)

TIDMBARK

RNS Number : 3158X

Barkby Group PLC

19 December 2023

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

Barkby Group PLC

("Barkby", or the "Company")

Update on debt refinancing and Cambridge Sleep Sciences

Barkby, (AIM: BARK) the roadside real estate business, provides an update on its intention to refinance its existing debt facilities further to the announcement on 4 December 2023.

The Company has engaged in several constructive discussions with prospective investors in relation to its proposed private debt offering. It is currently envisaged that the Company's current facilities will be refinanced via a private debt instrument, issued at a coupon of 14% for a period of 24 months. This instrument would be secured against the Company's wholly owned Real Estate assets and its 75% shareholding in Cambridge Sleep Sciences, ("CSS"). The terms of the debt may also bestow the right upon holders to participate in an exit option of the Company's CSS shareholding under preferential terms, or to benefit from a profit share agreement. Final terms remain subject to negotiation.

Investors and existing Barkby shareholders who wish to participate in the private debt offering should contact ir@barkbygroup.com.

Cambridge Sleep Sciences

CSS has made encouraging progress on several new multi-year licensing, streaming and royalty contracts with blue chip multi-national customers across TVs, Smart Watches, Pillows, Mattresses and Hotels. Since the last update on 29 September 2023, CSS's pipeline has continued to strengthen and it is in the final stages of negotiation on a number of new agreements. The Company will continue to update shareholders as appropriate.

The Board continues to evaluate the best corporate setting to maximise shareholder value from its investment in CSS and has begun exploring opportunities for a potential trade sale and de-merger. There can be no certainty that any de-merger or sale of CSS will ultimately be made or the value of any such possible deal.

- Ends -

Enquiries:

 
 Barkby Group PLC 
  Charles Dickson, Executive Chairman 
  c/o Montfort 
 
                                                        +44 (0)78 1234 
 Montfort                                               5205 
  Olly Scott                                            +44 (0)75 4284 
  Georgia Colkin                                        6844 
 Cavendish Capital Markets Limited (Nomad and 
  Broker) 
  Carl Holmes / Simon Hicks / Fergus Sullivan 
  (Corporate Finance)                                 +44 (0)20 7220 
  Tim Redfern (ECM)                                    0500 
 Stifel Nicolaus Europe Limited (Financial Adviser 
  and Joint Corporate Broker) 
  Mark Young 
  Jonathan Wilkes-Green                               +44 (0)20 7710 
  Catriona Neville                                     7600

About Barkby

Barkby is a roadside real estate business focused on building and scaling a high-quality portfolio of modern assets.

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