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DICKER DATA LIMITED — Capital/Financing Update 2011
Dec 15, 2011
64763_rns_2011-12-15_433fd4cf-75db-478f-aa75-a2e634476e40.pdf
Capital/Financing Update
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230 Captain Cook Drive KURNELL NSW 2231 Freecall: 1800 688 586 Freefax: 1800 688 486
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www.dickerdata.com.au
Dicker Data is the registered trading name for Dicker Data Ltd ABN 95-000-969-362
16 December 2011
Manager of Company Announcements ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000
NEW BANKING RELATIONSHIP WITH ST GEORGE
The Board of Directors of ASX listed Dicker Data Limited is pleased to announce the formation of a new banking relationship with St George Bank.
Under the terms agreed between the company and St George Bank, the company’s total facility will be initially established at $56.8M, which includes debtor financing, asset financing and other working capital funding facilities.
The total funding facility level available to the company until now has been restricted to approximately $30M.
The Directors expect that the new facility established with St George Bank will enable the company to –
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Achieve greater flexibility in the day to day management of working capital;
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Achieve greater flexibility in inventory purchases, including the opportunity to take greater advantage of special offers from vendors, and achieve higher rebates (“soft margins”) from vendors;
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Adequately fund the projected growth of revenues and inventories;
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Return a significant portion of generated profits to shareholders in accordance with the Company’s dividend policy.
The arrangements reached by Dicker Data Limited with St George Bank were finalised after a comprehensive review and analysis of the company’s requirements, and negotiations with a number of banks and other financial institutions.
The Directors look forward to a long and mutually beneficial relationship with St George Bank.
Dicker Data Limited
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 – including Hewlett-Packard, Toshiba, ASUS and Samsung. 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, Newport Capital, Corporate Advisers to Dicker Data Limited – [email protected].