Utilitywise plc Amendments to banking facility agreement (5605D)
February 01 2018 - 2:00AM
UK Regulatory
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
END
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