TIDMPNS

RNS Number : 4341L

Panther Securities PLC

01 August 2011

1 August 2011

Panther Securities PLC

("Panther" or the "Company")

Bank facility completed and further re. acquisitions

The Panther Board is pleased to announce that on 29 July 2011 the Company completed its refinancing arrangements, being a facility totalling GBP75,000,000 provided by HSBC and Santander.

The initial draw-down is GBP60,000,000, by way of a 5 year term loan. This provides the Company with approximately GBP10,000,000 for immediate investment, following the repayment of the existing long-term finance and recent short-term draw-downs and payment of associated bank and legal fees. In due course, once further security has been provided, the Company will also have access to the remaining GBP15,000,000 of revolving facility, which will also be on a 5 year term.

Further to the announcement on 14 July 2011, all the property purchases, which amounted to an aggregate consideration of approximately GBP10.1 million, have been completed. In due course the Directors expect that these properties will increase Panther's rental income by over GBP1.1 million per annum.

For further information contact:

 
 Panther Securities PLC 
  Andrew Perloff - Chairman 
  Simon Peters - Finance Director    01707 667 300

This information is provided by RNS

The company news service from the London Stock Exchange

END

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