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TPXIMPACT HOLDINGS PLC
Capital/Financing Update • Jun 30, 2023
7981_rns_2023-06-30_d5b2c593-497e-4805-bd7d-709d8c3bbaf2.html
Capital/Financing Update
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RNS Number : 4673E
TPXimpact Holdings PLC
30 June 2023
30 June 2023
TPXimpact Holdings PLC
("TPXimpact", or the "Group")
Agreement on Debt Covenants and Notice of Results
TPXimpact Holdings PLC (AIM: TPX), the technology-enabled services company focused on people-powered transformation, provides an update in relation to its debt covenants with HSBC.
Further to the announcements made on 31 January and 31 March 2023, the Board is pleased to report that it has agreed a reset of the covenant terms applicable to its £30m revolving credit facility with HSBC. Following a waiver of covenants at 30 June 2023, the Group will need to maintain minimum cash liquidity levels on a monthly basis and also meet minimum Adjusted EBITDA performance levels on a quarterly basis. Management believe the updated covenant structure provides renewed stability for the business and a sound basis for achieving its performance goals.
These terms will apply until the quarter ending 30 September 2024, at which time the covenants will return to the existing measures based on Net Debt/Rolling 12 month Adjusted EBITDA and Interest cover.
The Group will announce its Unaudited Preliminary Results for the year ended 31 March 2023 on Thursday 6 July 2023.
| Enquiries: TPXimpact Holdings Steve Winters, Group CFO Stifel Nicolaus Europe Limited (Nomad and Joint Broker) Alex Price Fred Walsh Ben Burnett |
Via Alma PR +44 (0) 207 710 7600 |
| Dowgate Capital Limited (Joint Broker) James Serjeant David Poutney Russell Cook |
+44 (0) 203 903 7715 |
| Alma PR (Financial PR) Josh Royston Kieran Breheny Matthew Young |
[email protected] +44 (0) 203 405 0209 |
About TPXimpact
TPXimpact exists to transform the organisations, services and systems that underpin society and that drive business success. It applies strategic and creative thinking, technology, innovative design and user-centred approaches to bring about numerous improvements which together multiply the impact of change.
The Group works closely with its clients in agile, multidisciplinary teams that span organisational design, technology, and digital experiences. It shares a deep understanding of people and behaviours and a philosophy of putting people and communities at the heart of every transformation.
The business is being increasingly recognised as a leading alternative digital transformation provider to the UK public services sector, with c.65% of its client base representing the public sector and c.35% representing the commercial sector.
More information is available at www.tpximpact.com.
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