TIDM44EK

RNS Number : 7128C

Orbit Capital PLC

13 October 2022

ORBIT CAPITAL PLC RNS

LOAN TO SWAN GROUP

13 October 2022

In connection with the partnership discussions between Orbit Group Limited ("Orbit") and Swan Housing Association Limited ("Swan"), Orbit granted a 1-year secured loan facility in January 2022 of GBP25m, which was subsequently increased to GBP40m in March 2022 (the "Loan"). The Loan is fully drawn and is fully secured with typical asset cover requirements.

Orbit is in discussions with Swan in relation to the repayment of the Loan, including the proposal that Sanctuary would re-finance the Loan as part of the potential merger between Swan and Sanctuary. Orbit will continue to monitor developments in respect of the merger between Swan and Sanctuary and will reassess its position in light of any adverse developments.

Orbit reserves all of its rights, powers, claims and remedies available to it under the Loan Agreement and applicable law. No delay or forbearance by Orbit to exercise any right or remedy under the terms of the Loan Agreement or related security document shall impair any such right or remedy or constitute a waiver thereof or an acquiescence thereto.

ENDS

For further information please contact: Lisa Astle, Director of Communications and Brand Lisa.astle@orbit.org.uk 07775 633957

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END

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October 13, 2022 02:00 ET (06:00 GMT)

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