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Cohort PLC - Reading, England-based defence and security markets-focussed technology company - Extends banking facility to a £50 million facility which will run for three years to July 2025, with the option to extend it for a further two years. The previous facility was for £40 million and was due to expire in November of this year. The syndicate of banks providing the facility has also been extended with the addition of Commerzbank AG to NatWest Group PLC and Lloyds Banking Group PLC.
Finance Director Simon Walther comments: ‘The facility provides the group with a flexible arrangement to draw down for acquisitions and overdraft. The addition of Commerzbank gives us provision for banking instruments, such as bank guarantees, in Germany where our subsidiary ELAC Sonar is located.’
Current stock price: 513.8 pence, down 0.8% in London on Tuesday
12-month change: down 6.9%
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