Property Financing, finnCap Group PLC, 2020-05-26






RNS Number : 8365N
finnCap Group PLC
26 May 2020
 

26 May 2020

 

finnCap Group plc

(“finnCap” or the “Group”)

 

Property Financing

 

 

Further to its announcement of 17 January 2020, the Group has now finalised the financing for the fit out of its new offices in 1 Bartholomew Close. On 22 May 2020 Cavendish Corporate Finance Limited (“Cavendish Corporate Finance”) entered into a loan agreement with National Westminster Bank plc (“Natwest”) for an amount of £1.8m, with a fixed interest rate of 3.65% repayable in equal monthly instalments over 5 years. The Group and its subsidiaries have given a charge over their assets and issued cross guarantees as security for the loan which is also subject to covenants related to the trading performance of Cavendish Corporate Finance.

 

The current financial year has started well in both of the Group’s divisions and, although a number of M&A deals have been delayed, we are encouraged by the remaining pipeline of transactions for the first quarter.  The Group will provide a further trading update with the announcement of its results for the year ended 31 March 2020.

 

 

 

Contacts

finnCap Group plc                                                                       Tel: +44 (0) 20 7220 0500

Sam Smith, Chief Executive Officer                                          investor.relations@finncap.com

Richard Snow, Chief Financial Officer

 

Grant Thornton (Nominated Adviser)                                    Tel: +44 (0) 20 7383 5100

Philip Secrett/Samantha Harrison/Seamus Fricker

 

finnCap Ltd (Broker)                                                                  Tel: +44 (0) 20 7220 0500

Rhys Williams

Tim Redfern

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 

END

 
 

FURDBGDULBDDGGU

Leave a Reply

Your email address will not be published.