TCLARKE PLC

Capital/Financing Update • Aug 8, 2014

National Storage Mechanism | Additional information

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RNS Number : 7082O

Clarke(T.) PLC

08 August 2014

TClarke plc (the "Group")

Clarification regarding banking facilities

The Group's interim results announcement issued on 5 August 2014 contained a comment in the Chairman's statement and in note 3 to the financial statements concerning a possible breach of the Group's obligations under its banking facilities in relation to the notification of a court judgment received against a subsidiary company. 

Having sought further clarification from its advisors the Board considers that the Group's failure to inform the bank of the award of damages against the subsidiary company in a timely manner is an event of default under its banking facilities.  However, whilst the bank reserves its rights in relation to this matter, it has confirmed that it remains supportive and has no current intention to withdraw the banking facilities as a consequence of the award.

A further update on progress with the claim will be provided in due course.

For further information contact:

TClarke plc

Mark Lawrence                          Martin Walton

Group Chief Executive                 Finance Director

Tel: 020 7997 7400                    Tel: 020 7997 7400

www.tclarke.co.uk    

N+1 Singer (Financial Adviser and Broker)

Nick Owen/Sandy Fraser

Tel: 020 7496 3000

www.nplus1singer.com

Broker Profile

Simon Courtenay

Tamsin Shephard

Tel: 020 7448 3244

www.broker-profile.com

This information is provided by RNS

The company news service from the London Stock Exchange

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