AdEPT Telecom plc New £15m Banking Facility (0372L)
April 22 2015 - 11:00AM
UK Regulatory
TIDMADT
RNS Number : 0372L
AdEPT Telecom plc
22 April 2015
AdEPT Telecom Plc
("AdEPT" or the "Company")
New GBP15m Banking Facility
-- New GBP15 million 5 year debt facility
-- Longer term facility
-- Facility structure increases flexibility
-- Improved terms over previous facility
-- Supports acquisition growth strategy
AdEPT Telecom, one of the UK's leading independent providers of
voice and data telecommunications solutions, today announcesthat it
has signed a 5 year GBP15 million revolving credit facility
agreement with Barclays Bank Plc ("Barclays").
This longer term facility replaces the previous GBP5 million
revolving credit facility which had an 18 month term remaining. The
flexible structure of the new agreement and the terms represent an
improvement to those in place under the Company's previous debt
facility agreement.
The new increased debt facility will be used by the Company to
fund the strategic acquisition of businesses within the fragmented
fixed line telecom market.
Roger Wilson, Chairman of AdEPT Telecom plc, said:"The new bank
facility will enable the Company to continue with its strategy of
consolidation of the fragmented fixed line telecom market in the
UK. We continue to identify earnings enhancing acquisition
opportunities, and the increased scale and structure of this new
debt facility will provide greater flexibility and support for
future growth."
For more information please contact:
AdEPT Telecom Plc
Roger Wilson, Chairman 07786 111 535
Ian Fishwick, Chief Executive 01892 550 225
John Swaite, Finance Director 01892 550 243
Northland Capital Partners Limited
Nominated Adviser
Edward Hutton / Gerry Beaney
Broking
John Howes / Abigail Wayne 020 7382 1100
About AdEPT Telecom plc:
AdEPT Telecom plc is one of the UK's leading independent
providers of voice and data telecommunications solutions. The
Company provides a complete communications portfolio of fixed line
calls, line rental, broadband, mobile, VoIP and data connectivity
products.
AdEPT currently holds 4 Government Telecom Framework agreements:
ESPO (local government), Crown Commercial Service RM1035 (central
government), G-Cloud 6 and JANET (universities and colleges).
AdEPT's tailored services are used by thousands of businesses
customers across the UK and are brought together through the
strategic relationships with tier-1 suppliers such as BT Openreach,
Vodafone, Virgin Media and TalkTalk Business.
AdEPT Telecom is listed on the London Stock Exchange (Ticker:
ADT.L). For further information please visit:
www.adept-telecom.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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