Literacy Capital PLC Increase in credit facility limit to GBP30 million
27 November 2023 - 8:00AM
RNS Non-Regulatory
TIDMBOOK
Literacy Capital PLC
27 November 2023
The information contained in this announcement is restricted and
is not for publication, release or distribution in the United
States of America, any member state of the European Economic Area,
Canada, Australia, Japan or the Republic of South Africa.
27 November 2023
Literacy Capital plc ("Literacy", "BOOK" or the "Company")
Increase in credit facility limit to GBP30 million
The Company announces that it has agreed an increase to the
limit of its Revolving Credit Facility ("RCF") from GBP25 million
to GBP30 million, with its existing lender Investec Bank plc. All
other terms remain unchanged.
Drawings under the RCF as of today amount to just under GBP7
million. The Company's Borrowing Policy permits "indebtedness of up
to a maximum of 20 per cent of its Net Asset Value". However,
gearing is expected to remain conservative throughout the term of
this facility and leverage would not be expected to exceed 10% of
net assets.
-ENDS-
For further information, please contact:
Literacy Capital plc / Book Asset Management LLP
Tom Vernon / Richard Pindar
+44 (0) 20 3960 0280
MHP Group
Reg Hoare / Ollie Hoare / Matthew Taylor
book@mhpgroup.com
+44 (0) 20 3128 8100
Singer Capital Markets Securities Limited
Robert Peel
+44 (0) 20 7496 3000
LEI: 2549006P3DFN5HLFGR54
A copy of this announcement will be available on the Company's
website at https://www.literacycapital.com/.
This announcement is for information purposes only and is not an
offer to invest. All investments are subject to risk. Past
performance is no guarantee of future returns. Prospective
investors are advised to seek expert legal, financial, tax and
other professional advice before making any investment decision.
The value of investments may fluctuate. Results achieved in the
past are no guarantee of future results. Neither the content of the
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into, or forms part of, this announcement nor, unless previously
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END
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