TIDMFRP

RNS Number : 8457J

Fairpoint Group PLC

03 July 2017

3 July 2017

Fairpoint Group plc

("Fairpoint", the "Group" or the "Company")

Assignment of Bank Debt and Receivables Funding Facility for Simpson Millar LLP

The Company has today been notified by AIB Group (UK) plc ("AIB") that AIB has assigned its debt due from Fairpoint to Doorway Capital Limited ("Doorway").

In addition, the Company announces that Doorway, a specialist provider of capital to law firms, has today provided a Receivables Funding Facility ("the Facility") of up to GBP5 million to Simpson Millar LLP, the Company's wholly owned Legal Services business. The Facility will provide additional working capital for Simpson Millar.

Fairpoint Group plc

David Broadbent, Chief Executive Officer 0161 876 1310

Shore Capital (Nomad and Joint Broker)

Mark Percy 020 7408 4090

Edward Mansfield

MHP Communications

Reg Hoare fairpoint@mhpc.com

Hannah Winter 020 3128 8793

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

July 03, 2017 02:00 ET (06:00 GMT)

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