Released: 30/07/2007
RNS Number:0650B
Spiritel PLC
30 July 2007
30 July 2007
SPIRITEL plc
("Spiritel" or "the Group")
BANK LOAN FACILITY
NEW £1.375 MILLION COMMITTED BANKING FACILITY TO SUPPORT ACQUISITION STRATEGY
Spiritel plc (AIM: STP), the telecommunications services business, today
announces that it has entered into a new £1.375 million committed banking
facility agreement with Clydesdale Bank PLC to support the Company's ongoing
acquisition programme.
Commenting on the new facility Ronnie Smith, Spiritel Finance Director said: "We
are delighted to have gained the support of Clydesdale Bank to build on our
recent successes in making earnings-enhancing acquisitions. Securing a senior
debt facility marks a significant step for Spiritel as we seek to reduce the
cost of our capital and continue to restore shareholder value.
He added: "The facility supports our plans for the acquisitive and organic
growth that will deliver a broadening range of traditional and IP based
communications services to a growing business customer base. In line with this
strategy, we expect to be able to announce further acquisitions in due course."
For further information please visit www.spiritelplc.com or contact:
Spiritel plc Tavistock Communications
Alastair Mills Simon Hudson
Chief Executive Clemmie Carr
Tel: +44 20 7160 0100 Tel: +44 20 7920 3150
This information is provided by RNS
The company news service from the London Stock Exchange
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