Panther Securities PLC Update on refinance, property valuation & dividend (0992T)
March 23 2021 - 2:00AM
UK Regulatory
TIDMPNS
RNS Number : 0992T
Panther Securities PLC
23 March 2021
23 March 2021
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation EU 596/2014 as it forms
part of retained EU law (as defined in the European Union
(Withdrawal) Act 2018).
Panther Securities PLC
(the "Company" or the "Group")
Update on refinance, property valuations and dividend
Further to the Company's announcement made on 26 February 2021,
the Board provides the following updates:
Refinance
The Group is pleased to confirm that approval has been obtained
for the three month extension from both joint lenders ("the
Lenders"), to extend the current loan facilities to July 2021
(previously to expire in April 2021)("the Extension Period"). The
refinance of our term loans is now expected to receive full credit
approval and complete within the Extension Period. The Lenders'
solicitors have also now been instructed on the basis that the
final credit approval will be obtained from the second Lender.
Property valuations
The final forms of the reports have been issued by the valuers.
Although the Lenders still have an opportunity to raise queries,
the Board considers it unlikely at this stage that the valuation
figures reported on 26 February 2021 will change. We have been
informed that the reports are expected to be officially signed off
in the next two weeks.
Dividend update
The Directors still consider that it is prudent to wait until
full credit approval has been obtained for the refinancing before
declaring any dividend.
As such the Group expects to make a further announcement on the
dividend and confirm credit approval in due course.
For further information:
Panther Securities plc: Tel: 01707 667 300
Andrew Perloff/ Simon Peters
Allenby Capital Limited (Nomad and Joint Tel: 020 3328 5656
Broker)
David Worlidge/ Alex Brearley
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