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DICKER DATA LIMITED — Capital/Financing Update 2013
Feb 11, 2013
64763_rns_2013-02-11_3962e6c4-0823-4e8e-93c8-a56d85de4857.pdf
Capital/Financing Update
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12 February 2013
Manager of Company Announcements ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000
By E-Lodgement
Macquarie Bank Inventory Purchase Finance Facility
The Board of Directors of ASX listed Dicker Data Limited (ASX – DDR) is pleased to announce that the Company has signed an agreement with Macquarie Bank for a new $20 million inventory purchase finance facility.
Under the agreed terms the facility will be available to the Company for the purchase of inventory from HP, the Company’s largest vendor. The facility may be extended to purchases from the Company’s other vendors in the future.
The Directors expect that the new facility will enable the Company to –
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Achieve greater flexibility in inventory purchases, including the opportunity to take greater advantage of early settlement discounts available;
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Compliment the trade credit facility available to the Company from HP;
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Adequately fund the future growth of the Company’s revenues and inventories; and
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Return a significant portion of all generated profits to shareholders in accordance with the Company’s dividend policy.
The arrangements reached by Dicker Data Limited with Macquarie Bank were finalised after a comprehensive review and analysis of the Company’s requirements, and thorough exploration of viable options to raise additional working capital.
Dicker Data Limited
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David Dicker Chairman and CEO
About Dicker Data Limited
Dicker Data Limited was listed on the ASX on January 24[th] 2011. Dicker Data Limited is Australia’s largest Australian owned high volume distributor of Information Technology products operating on behalf of Tier 1 vendors. The company operates from newly occupied special purpose facilities in Kurnell. Further information is available by inquiries to –
Mary Stojcevski, CFO - [email protected]
Lou Richard or David Fulep, Newport Capital, Corporate Advisers to Dicker Data Limited – [email protected] or [email protected],