SGC Stagecoach Group Plc

TIDMSGC

RNS Number : 2977Q

Stagecoach Group PLC

18 June 2020

18 June 2020

Covenant waiver

Stagecoach Group plc ("the Group") continues to take appropriate action to maximise financial flexibility as it negotiates the continuing challenges and uncertainty around COVID-19 and the UK's recovery. We have taken the precautionary measure of agreeing a covenant waiver for the periods ending 31 October 2020 and 1 May 2021 with our group of lending banks for our facilities expiring March 2025. As an alternative to the covenants, we have agreed minimum liquidity thresholds at 31 October 2020 and 1 May 2021.

Combined with the other actions outlined in our announcements on 23 March, 3 April and 28 May, the Group has strong liquidity, with available cash and undrawn, committed bank facilities of over GBP800m.

For further information, please contact :

Investors and analysts

   Ross Paterson, Finance Director                                 07714 667897 
   Bruce Dingwall, Group Financial Controller              07917 555293 

Media

   Steven Stewart, Director of Communications             07764 774680 
   John Kiely, Smithfield Consultants                             07785 275665 

The person responsible for arranging the release of this announcement on behalf of Stagecoach Group plc is Mike Vaux, Company Secretary.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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June 18, 2020 02:00 ET (06:00 GMT)

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