RNK Rank Group Plc

TIDMRNK

RNS Number : 3755E

Rank Group PLC

07 July 2021

7 July 2021

The Rank Group Plc

LEI : 213800TXKD6XZWOFTE12

Business Update

The Rank Group Plc (LSE: RNK) ('Rank' or 'the Group') provides an update on its banking facilities

Rank is pleased to announce that it has signed a new two year GBP25m Revolving Credit Facility ('RCF') agreement with Lloyds Bank plc. The facility provides the Group with additional liquidity and the opportunity, when we are confident that the Group is delivering sustainable positive cashflows, to accelerate investment in the Group's transformation plan.

The new facility is subject to the same financial covenant waiver and associated conditions, including a quarterly minimum GBP50m cash and available facilities test, that are in place across the Group's other bank facility agreements.

This new facility is in addition to the Group's existing GBP55m RCF and the remaining GBP108.4m term loan.

Ends

 
 Contacts: 
 Rank 
 Sarah Powell - investor          Tel: +44 1628 504 303 
  relations 
 
 Media Enquiries: 
 FTI Consulting LLP (PR adviser 
  to Rank) 
 Edward Bridges                   Tel: +44 20 3727 1067 
 Alex Beagley                     Tel: +44 20 3727 1045 
 

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July 07, 2021 02:00 ET (06:00 GMT)

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