TIDMJPR

RNS Number : 6973L

Johnston Press PLC

04 October 2016

Johnston Press plc

("Johnston Press" or the "Company")

Amendment to the Super Senior Revolving Credit Facility (the "Facility")

Johnston Press stated in its interim report for the 26 weeks ended 2 July 2016 published on 4 August 2016 that it would seek to review the Facility with its lenders to ensure it continues to meet the needs of the business.

The Company is pleased to announce that it has agreed changes to certain terms of the Facility with all of the lenders (the "Lenders"). The changes are effective immediately and will be effective until 31 December 2016.

The Facility is currently unutilised.

Under the terms of the agreement, the total commitments under the Facility will be GBP12.5 million. In addition, in advance of the September 2016 covenant test, the Lenders have agreed to waive this test and that the next covenant test date will be for the 12 month period ending on 31 December 2016.

The Company will now work with the Lenders to agree amendments to the Facility, anticipated to be effective from 2017 onwards, in light of recent developments including the acquisition of the i newspaper and potential future asset disposals.

Market abuse regulation

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

 
 Johnston Press 
  Ashley Highfield, Chief Executive Officer     020 7612 2601 
  David King, Chief Financial Officer            020 7612 2602 
 Bell Pottinger 
  Dan de Belder 
  Henry Lerwill                                  020 3772 2561

This information is provided by RNS

The company news service from the London Stock Exchange

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October 04, 2016 13:02 ET (17:02 GMT)

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