Stride Gaming PLC Refinancing of existing loan (2604P)
November 15 2016 - 10:33AM
UK Regulatory
TIDMSTR
RNS Number : 2604P
Stride Gaming PLC
15 November 2016
15 November 2016
Stride Gaming plc
("Stride Gaming", or the "Company")
Refinancing of existing loan
Stride Gaming plc (AIM:STR), the multi-branded online soft
gaming operator, is pleased to announce that further to the
Company's announcement on 29 July 2016, which stated that the
Company was in discussions with a tier one bank regarding the
refinancing of its existing loan, it has today entered into an
GBP8.0 million loan facility with Barclays Bank PLC
("Barclays").
This committed facility with Barclays will refinance the
existing loan extended to the Company by its shareholder, Poppy
Investments Limited. The GBP8.0 million Barclays facility matures
four years from the date of the initial drawdown on a 3.6 per cent
plus LIBOR annual floating rate basis payable quarterly, with the
principal sum outstanding amortising on a quarterly basis over the
term of the facility.
Eitan Boyd, Chief Executive of Stride Gaming, commented:
"The loan facility with Barclays is another important step in
Stride Gaming's successful journey as a public company and is a
major endorsement of our strategy. Achieving financing from a tier
one bank further enhances our ability to pursue our organic and
acquisitive growth strategy and to deliver value for
shareholders."
Enquiries:
Stride Gaming plc
Nigel Payne (Non-Executive Chairman)
Eitan Boyd (Chief Executive Officer) + 44 (0) 20
Ronen Kannor (Chief Financial Officer) 7284 6080
Canaccord Genuity Limited
(Financial Adviser, Nominated Adviser
and Joint Broker)
Bruce Garrow
Emma Gabriel +44 (0) 20 7523
Richard Andrews 8000
Shore Capital
(Joint Broker)
Simon Fine
Mark Percy +44 (0) 20
Toby Gibbs 7408 4090
Yellow Jersey PR +44 (0) 7825
(Financial PR) 916 715
Alistair de Kare-Silver +44 (0) 7748
Felicity Winkles 843 871
About Stride Gaming plc:
Stride Gaming is an online gaming operator in the bingo-led and
the global social gaming market. The Company operates a
multi-branded strategy across its two verticals, and uses its own
proprietary and purchased software to provide online bingo and slot
gaming for its players, and a social gaming mobile application.
Stride Gaming's real money offering is presently focused on the UK
market, is licensed and only operates from the regulated
jurisdictions of the UK and Alderney. The Company's players' reach
is international in the mobile social gaming market with a focus on
the North American market.
Further information on the Group is available at:
www.stridegaming.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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