Published: 29 January 2019
ldox plc (AIM: IDOX), a leading supplier of specialist information management solutions and services, is pleased to announce it has successfully extended its existing banking arrangement with the Royal Bank of Scotland plc and Silicon Valley Bank (the "Lenders").
The existing banking arrangements were agreed in September 2014 for a four-year term, extended previously to 24 February 2019 and this second extension runs to 25 February 2020.
As at 31 October 2018, the Group had borrowings under the existing arrangement of £25.0m. The facilities included a £17.0m term loan (of which £7.0m has been drawn down) and a revolving credit facility of £23.0m (of which £18.0m has been drawn down).
Under the terms of the extension:
This extension gives Idox a strong platform to continue refocussing its operations and allows the Group time to consider longer-term financing alternatives.
Idox plc +44 (0) 870 333 7101
David Meaden, Chief Executive
Rob Grubb, Chief Financial Officer
N+1 Singer (NOMAD and Broker) +44 (0) 20 7496 3000
Jen Boorer (Corporate Finance)
About Idox plc
For more information see www.idoxplc.com @Idoxgroup
Updated: 29 January 2019