TIDMADT
RNS Number : 7464M
AdEPT Telecom plc
04 February 2009
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AdEPT Telecom Plc
("AdEPT Telecom" or the "Company")
Renewal of Banking Facilities
AdEPT Telecom, a leading independent provider of award-winning
telecommunications services for landline calls, line rental and broadband, is
pleased to announce that it has signed a committed GBP12.25 million 3 year
credit agreement and renewed its existing GBP2 million overdraft facility with
Barclays Bank Plc ("Barclays").
The new facilities are expected to result in an increase to the interest charge
of approximately GBP100,000 in the financial year ending 31 March 2010 and
contains covenants appropriate for the future development of the Company.
As part of the agreement, AdEPT telecom has issued warrants over 5% of its fully
diluted ordinary share capital to Barclays. These have an exercise price of
10.69p, and are exercisable until January 2019.
For further information on AdEPT Telecom please visit www.adept-telecom.co.uk or
contact:
+-------------------------------------------------+--------------------------+
| AdEPT Telecom Plc | 01892 550 243 |
| Roger Wilson, Chairman | 07786 111 535 |
| Ian Fishwick, Chief Executive | |
| | |
+-------------------------------------------------+--------------------------+
| Blue Oar Securities Plc | 020 7448 4400 |
| Shane Gallwey / Blaine Tatum / Matt Marchant | |
| | |
+-------------------------------------------------+--------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
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