The
information contained within this announcement is deemed by the
Company to constitute inside information as stipulated under the UK
Market Abuse Regulation.
4 November 2024
EnSilica plc
("EnSilica", the
"Company" or the "Group")
New Debt Facility
EnSilica, a leading chip maker of
mixed signal ASICs (Application Specific Integrated
Circuits), is pleased to announce that it
has secured a new debt facility to refinance its existing external
loan facilities, providing total funding of up to £9 million and
extending out to November 2029 (the "Facility").
The Facility has been agreed with
Lloyds Bank Group plc, providing the Company with additional
flexibility to underpin ongoing working capital commitments, and
ensuring that EnSilica can fully capitalise on its existing new
business pipeline.
The Facility consists of a
three-year £3 million repayment term loan facility and a five-year
£3 million revolving credit facility with an accordion option for
an additional £3 million subject to credit approval by the lender.
The Facility also improves the borrowing costs of the Company. The
Facility agreements contain normal market terms and financial
covenants.
Kristoff
Rademan, Chief Financial Officer of EnSilica,
commented:
"We are delighted to have secured a new debt financing package
for the business, which strengthens our underlying finances and
supports our working capital commitments going
forward."
For further
information please contact:
|
EnSilica
plc
Ian Lankshear, Chief Executive
Officer
Kristoff Rademan, Chief Financial
Officer
www.ensilica.com
|
via Vigo Consulting
+44 (0)20 7390 0233
|
|
Allenby
Capital Limited, Nominated Adviser & Joint
Broker
Jeremy Porter / Vivek Bhardwaj (Corporate
Finance)
Joscelin Pinnington / Tony Quirke (Sales &
Corporate Broking)
|
+44 (0)20 3328 5656
info@allenbycapital.com
|
|
Singer Capital
Markets, Joint Broker
Rick Thompson / Asha Chotai
|
+44 (0)20 7496 3000
|
|
Vigo
Consulting (Investor & Financial Public
Relations)
Jeremy Garcia / Kendall Hill / Anna
Stacey
|
+44 (0)20 7390 0233
ensilica@vigoconsulting.com
|
The person
responsible for arranging release of this announcement on behalf of
the Company is Kristoff Rademan, Chief Financial
Officer.
About
EnSilica
EnSilica is a leading fabless design house
focused on custom ASIC design and supply for OEMs and system
houses, as well as IC design services for companies with their own
design teams. The company has world-class expertise in supplying
custom RF, mmWave, mixed signal and digital ICs to its
international customers in the automotive, industrial, healthcare
and communications markets. The company also offers a broad
portfolio of core IP covering cryptography, radar, and
communications systems. EnSilica has a track record in delivering
high quality solutions to demanding industry standards. The company
is headquartered near Oxford, UK and has design centres across
the UK and in Bangalore, India and Porto Alegre, Brazil.