TP ICAP Group PLC

Capital/Financing Update • Mar 3, 2020

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

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
www.tpgroup.uk.com
Cenkos Securities plc	Tel: 020 7397 8980
Stephen Keys / Mark Connelly / Callum Davidson
www.cenkos.com
Vigo Communications	Tel: 020 7390 0230
Jeremy Garcia / Fiona Henson / Charlie Neish
www.vigocomms.com

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.

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.

END

MSCUPUMAWUPUGAW