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AJ LUCAS GROUP LIMITED — Capital/Financing Update 2012
Nov 29, 2012
64350_rns_2012-11-29_d42d3b98-1255-4bd2-b6c2-d04567371990.pdf
Capital/Financing Update
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30 November 2012
ASX ANNOUNCEMENT/MEDIA RELEASE Banking Facilities Update
As announced on 19 September, the present maturity date of the Group’s senior banking facilities is 30 November 2012. The majority of these facilities relate to leases of plant and equipment.
Since that announcement, the Company has engaged with selected parties regarding refinancing these facilities and received various indicative proposals, which have been shared with our Senior Financier.
Having regard to the nature of the refinancing proposals received, and based on discussions with the Company’s bankers, the Senior Financier has indicated that it is favourably disposed towards extending the maturity date. At the time of writing however, this has not been formally confirmed.
A further announcement will be released immediately the Company receives the Senior Financier’s formal confirmation.
For further information please contact:
Nicholas Swan Company Secretary +61 2 9490 4127
About AJ Lucas Group Limited
Lucas is a leading provider of specialist infrastructure, construction and drilling services to the energy, water and waste water, resources and public infrastructure sectors. In particular, it is the largest supplier of drilling and gas management services to Australia’s coal industry. Other divisions provide construction and civil engineering services together with facilities management.
AJ Lucas is also a proven developer of unconventional hydrocarbon properties. Current investments include a 43% shareholding in Cuadrilla Resources, an exploration and production company focused on unconventional hydrocarbons, and a 25% direct interest in the Bowland and Weald shale basin prospects in respectively North West and South East England. Past projects successfully developed and exited include the Company’s investments in Gloucester Basin, Sydney Gas and ATP651 in Queensland’s Surat Basin.