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TP Group PLC - Finance Facility

RNS Number : 8980E
TP Group PLC
03 March 2020

3 March 2020


The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.



TP Group plc

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

Finance Facility

TP Group (AIM: TPG), the providers of mission-critical solutions for a more secure world, announces that it has entered into a new £7.0 million revolving loan facility (the "Facility Agreement") with HSBC UK Bank plc. This facility has a term of three years and carries an option to increase the headroom to £12.0 million subject to certain conditions.

Under the terms of the Facility Agreement, entered into on 3 March 2020, the Group will pay interest at a rate of between 1.75% and 2.25% per cent. over LIBOR on the amount drawn down, depending on the Group's total leveraged position.

Derren Stroud, Chief Financial Officer of TP Group, commented:


"This is a significant step in our plan to continue growing the Company. Building upon recent successful investments we have set our aims increasingly high, and this facility will be used to pursue a series of acquisition, partnership and organic investment paths.


"The establishment of this facility reflects the confidence that our lending partner shares in the ongoing success of the business. It allows us to act quickly and flexibly, and with this support we look forward to capitalising on a number of opportunities anticipated in 2020."

For further information, please contact:


TP Group plc

Tel: 01753 285 810

Phil Cartmell, Chief Executive Officer


Derren Stroud, Chief Financial Officer






Cenkos Securities plc

Tel: 020 7397 8980

Stephen Keys / Mark Connelly / Callum Davidson






Vigo Communications

Tel: 020 7390 0230

Jeremy Garcia / Fiona Henson / Charlie Neish






Notes to Editors


TP Group delivers complex equipment, software and services for mission, business and safety critical applications in defence, space, intelligence & security and energy sectors. With more than 400 people in 6 European countries, it serves global customers through long-term contracts. The Group's shares have been traded on AIM since July 2001.

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Quick facts: TP Group PLC

Price: 7.008

Market: AIM
Market Cap: £54.6 m

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