1 November
2024
Sutton Harbour Group
plc
("Sutton
Harbour" or the "Company")
Bank Facility Amendment and
Property Disposal Update
Change of Registered
Office
The Company announces that the
National Westminster Bank plc (the "Bank") has agreed to amend the
Company's bank loan (the "Facility") repayment dates and the change
of its registered office address.
The Company is pleased to announce
that in accordance with its stated plan following the disposal of a
property, net proceeds of £0.683m have been used to make a
repayment against the Facility. Other properties are being
marketed, with expressions of interest received, to realise funds
to further pay back the Facility, in accordance with the amended
repayment dates: £0.762m by 6 December 2024, £2.470m in January
2025, £6.045m in February 2025 and £0.175m in March 2025, and to
provide additional working capital. The Facility matures on 30
December 2026.
In addition, the disposal process
for King Point Marina is progressing productively with an
encouraging level of interest to date.
The Company also announces that,
with immediate effect, the address of its registered office is
Ground Floor, 2A North East Quay, Sutton Harbour, Plymouth PL4
0BN.
For
further information, please contact:
|
Sutton Harbour Group plc
Philip Beinhaker - Executive
Chairman
Corey Beinhaker - Chief Operating
Officer
Natasha Gadsdon - Finance
Director
|
+44 (0) 1752 204186
|
|
Strand Hanson Limited
(Nominated & Financial Adviser
and Broker)
James Dance
Richard Johnson
|
+44 (0) 20 7409 3494
|
Notes to Editors
Sutton Harbour Group plc (SUH) is an
AIM quoted company specialising in marine operations, waterfront
regeneration and destination creation in Plymouth and Southwest
England.
The Company operates Sutton Harbour
Marina, King Point Marina and Plymouth Fisheries. Operational
activities include mixed-use lettings, car parking and support
services to harbour users, property management and regeneration and
asset enhancement.
Sutton Harbour Group plc is
committed to being the leading marine and waterfront regeneration
specialist in Southern England, and to positioning Sutton Harbour
in Plymouth as a destination of national interest.