Kinovo PLC Renewal of Bank Facilities (3396L)
September 05 2023 - 1:00AM
UK Regulatory
TIDMKINO
RNS Number : 3396L
Kinovo PLC
05 September 2023
5 September 2023
Kinovo plc
("Kinovo" or the "Company")
Renewal of Bank Facilities
Kinovo Plc (AIM: KINO), the specialist property services group
that delivers compliance and sustainability solutions, is pleased
to confirm that it has completed the renewal of its banking
facilities with its partner, HSBC UK Bank plc.
The facilities have been renewed to 31 May 2024, to align with
Kinovo's year-end reporting schedules, and are customarily
repayable on demand. They consist of a GBP2.5 million overdraft
facility at an interest rate of 2.85% above the Bank of England
base rate and a GBP6.0 million purchasing card facility, on which
there is no interest charge.
The renewal of the facilities was highlighted in the auditor's
report and the going concern statement (note 2.1) in Kinovo's 2023
Annual Report and Accounts as a material uncertainty related to
going concern. With the renewal of these facilities now being
signed, this matter of material uncertainty has now been addressed
and resolved.
Enquiries
Kinovo plc
Sangita Shah, Chairman +44 (0)20 7796 4133
David Bullen, Chief Executive Officer (via Hudson Sandler)
Canaccord Genuity Limited (Nominated Adviser
and Sole Broker) +44 (0)20 7523 8000
Adam James
Andrew Potts
Harry Rees
Hudson Sandler (Financial PR) +44 (0)20 7796 4133
Dan de Belder
Harry Griffiths
This announcement contains inside information for the purposes
of article 7 of the Market Abuse Regulation (EU) 596/2014 as
amended by regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310. With the publication of this announcement,
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END
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