Maiden Debt Facility
Updated : 07:00
K3 CAPITAL GROUP PLC
("K3", the "Company" and including its subsidiaries the "Group")
Maiden Debt Facility
K3 Capital Group plc, a multi-disciplinary professional services firm providing advisory services to SMEs, is pleased to report that the Company has signed its maiden debt facility as a plc.
The Group has secured total available debt facilities of £15 million through a new committed revolving credit facility of £10 million with an approved but uncommitted accordion facility of up to £5 million. The facilities, provided by HSBC Bank plc, are committed for a 3-year initial term and are provided on competitive terms.
Alongside the Company's existing cash reserves and strong ongoing cash generation, the facilities will be used to support the Company's growth ambitions and its declared intention to acquire complementary professional services businesses.
K3 were advised by finnCap Debt Advisory.
John Rigby, K3's CEO, commented:
"To date, the Group has been supported by its shareholders and its own cash generation in delivering the Board's vision. The new debt facility represents an important evolution of our capital structure, creating more flexible funding options as we consider further strategic acquisitions, in line with our ongoing growth strategy."
For further information, please contact:
K3 Capital Group plc | Tel: c/o finnCap 020 7220 0500 |
John Rigby, Chief Executive Officer | |
Andrew Melbourne, Chief Financial Officer | |
finnCap Ltd (Nominated Adviser and Joint Broker) | Tel: 020 7220 0500 |
Jonny Franklin-Adams, Emily Watts, Charlie Beeson (Corporate Finance) | |
Tim Redfern, Richard Chambers (Corporate Broking) Alistair Hay, George Ryan-Smith (Debt Advisory)
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Canaccord Genuity Limited (Joint Broker) | Tel: 020 7523 8000 |
Bobbie Hilliam (Corporate Broking) Alex Aylen (Head of Equities) |
About K3 Capital
K3 Capital Group plc is a multi-disciplinary professional services firm providing advisory services to SMEs, with operations throughout the UK and overseas.
Services provided by KBS Corporate, KBS Corporate Finance, Knightsbridge and KBS Capital Markets:
· Mergers and Acquisitions (M&A) - Company sales, brokerage and corporate finance services to SME's looking to achieve full or partial exit, advising on sales to private, trade, plc, private equity or overseas acquirors. Strategic advisory and valuations, financial due diligence and debt advisory.
Services provided by RandD UK Limited:
· Research & Development tax credit advisory: advising clients on Research and Development Tax Credit (RDTC) claims.
Services provided by Quantuma Advisory Limited:
· Restructuring advisory: formal insolvency appointments, informal restructuring advisory, personal insolvency and pension restructuring and insolvency advice.
· Financial advisory: comprehensive analysis of business performance through business toolkit, independent reviews, stakeholder management and turnaround and interim support.
· Creditor Services: creditor representation and liquidations.
· Forensic accounting and expert witness: forensic investigations, intelligence and forensic accounting.
· Pensions advisory: corporate and trustee advisory, pension scheme restructuring advisory, covenant advisory and expert witness.
The Group's medium-term strategy is to build a wider group of growing and complementary professional services businesses to provide SME's with high quality advice across specialist disciplines.
K3 Capital Group trades on the London Stock Exchange (AIM: K3C.L), having listed on 11 April 2017. Please visit www.k3capitalgroupplc.com for more information.
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