SCIENCE GROUP PLC — Capital/Financing Update 2020

May 29, 2020

National Storage Mechanism | Additional information

RNS Number : 2702O

Science Group PLC

29 May 2020

29 May 2020

Science Group plc

("Group")

Top Up of Bank Loan

Further to the announcement on 4 May 2020, the Group has now finalised the top up of the bank loan, increasing the debt from £16.0 million at 28 May 2020 to the maximum level of £17.5 million.

The repayment date of the additional £1.5 million is the same as the current loan, September 2026. An additional interest rate swap has been taken to fix the interest rate of the incremental debt at an effective rate of 3.0%.  The rates fixed via similar swap instruments of 3.5% for the original loan in 2016, and 4.0% for the first extension of the loan in 2019, remain in place.  Consequently, the resulting effective interest rate for the term loan is 3.5%.

The other terms and conditions of the incremental loan are the same as the original facility as set out in the announcement on 16 September 2016.

Science Group plc
Martyn Ratcliffe, Chairman	Tel: +44 (0) 1223 875 200
Rebecca Archer, Finance Director	www.sciencegroup.com
Panmure Gordon
Nominated Adviser: Dominic Morley, Alina Vaskina	Tel: +44 (0) 20 7886 2500
Corporate Broking: Erik Anderson
Liberum Capital Limited
Neil Patel / Cameron Duncan / Robert Morton / Ed Phillips	Tel: +44 (0) 20 3100 2000

Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation (No 596/2014).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

FURMZGZKKRNGGZM