Anzeige
Mehr »
Login
Donnerstag, 14.11.2024 Börsentäglich über 12.000 News von 676 internationalen Medien
Kolumbiens nächster Kupferriese? Warum Investoren dieses 14.000-Meter-Bohrprogramm beobachten!
Anzeige

Indizes

Kurs

%
News
24 h / 7 T
Aufrufe
7 Tage

Aktien

Kurs

%
News
24 h / 7 T
Aufrufe
7 Tage

Xetra-Orderbuch

Fonds

Kurs

%

Devisen

Kurs

%

Rohstoffe

Kurs

%

Themen

Kurs

%

Erweiterte Suche

WKN: 501824 | ISIN: GB0009067447 | Ticker-Symbol: MTR
Frankfurt
13.11.24
08:11 Uhr
0,021 Euro
+0,003
+16,67 %
Branche
Handel/E-Commerce
Aktienmarkt
Sonstige
1-Jahres-Chart
MOTHERCARE PLC Chart 1 Jahr
5-Tage-Chart
MOTHERCARE PLC 5-Tage-Chart
GlobeNewswire (Europe)
294 Leser
Artikel bewerten:
(1)

Mothercare plc: Announcement re Refinancing

Finanznachrichten News

Refinancing

Mothercare plc ("Mothercare" or the "Company"), the specialist global brand for parents and young children, is pleased to announce a refinancing with GB Europe Management Services Ltd ("Gordon Brothers") of the Company's existing debt facilities.

The Board of Mothercare believes that these new secured debt facilities of £8 million, taken together with the gross consideration of £16 million from Reliance Brands Holding UK Limited ("Reliance) announced earlier today, delivers a de-leveraged Mothercare that can once more move forward with confidence and invest appropriately in the Company's future development.

Clive Whiley, Chairman of Mothercare, commented:

"Today's agreements with Reliance and Gordon Brothers strengthen our operations in South Asia and support a material reduction in our bank facilities and leverage.

We have worked closely with Gordon Brothers for over five years now and value its ongoing support for Mothercare. The revised facility agreement and related arrangements reflect the strength of that ongoing relationship and trust alongside recognising the accretive nature of the joint-venture to our equity valuation. For Mothercare, the reduction in the required facility size, funded by the formation of the joint venture, and the resulting significantly reduced cash interest cost, greatly improves our flexibility for FY25 and beyond.

Taking today's developments together with the inherent strength of the business's brand, we believe Mothercare can approach 2025 and beyond with a renewed and growing sense of confidence at the opportunities ahead, notwithstanding our ongoing cautious shorter term outlook, given the continuing challenges facing our Middle East operations."

New Financing Arrangements with Gordon Brothers

Mothercare has applied the proceeds received from Reliance towards a refinancing of the Company's existing debt facilities with Gordon Brothers. Under the terms of these new financing arrangements, the previous £19.5m term loan (which attracted interest at a rate of 13% per annum, plus SONIA, plus PIK interest of 1% per annum) has been replaced with:

  • an £8m 2 year term loan facility, which attracts interest at a rate of 4.8% per annum, plus SONIA (with a floor of 5.2%), plus PIK interest of 1% per annum, rising to 2% per annum through the term of the loan; and
  • the granting to Gordon Brothers of new warrants to subscribe up to 43.4m new ordinary shares of Mothercare at a subscription price of 8.5p per share (the "Warrants"). These Warrants, which are exercisable for 5 years from the date of issue, contain certain anti-dilution rights which will operate so as to secure for Gordon Brothers the right to subscribe for an aggregate equity interest representing approximately 7% of the Company's issued share capital (following exercise in full of the Warrants).

Overall Financial Impact of the Joint Venture Arrangements and Refinancing

For the financial year ended 30 March 2024, the intellectual property assets that were transferred to JVCO 2024, which had no associated balance sheet carrying value, generated Mothercare retail sales under the previous franchise arrangements of approximately £24 million (approximately 9% of the total retail sales), and contributed approximately £0.9 million to adjusted EBITDA.

The result of the restructuring of its operations in South Asia and the associated sale of the 51% stake in JVCO 2024, Mothercare estimates will result in a taxable gain of £29 million and - after the use of certain preexisting tax losses - a cash tax cost of approximately £3 million. Taking into account this and other pre-completion adjustments, refinancing expenses, transactional costs and associated additional pension deficit payments, Mothercare expects to apply approximately £11.5 million of net cash proceeds to refinance the existing Gordon Brothers facilities as outlined above.

Following the completion of these transactions, we expect to announce the preliminary results for the year ended 30 March 2024 tomorrow.

Investor and analyst enquiries to:

Mothercare plc Email: investorrelations@mothercare.com
Clive Whiley, Chairman
Andrew Cook, Chief Financial Officer

Deutsche Numis | Deutsche Bank AG Tel: 020 7260 1000
(NOMAD & Joint Corporate Broker)
Luke Bordewich
Henry Slater

Cavendish Capital Markets Tel: 020 7220 0500
(Joint Corporate Broker)
Carl Holmes

Media enquiries to:

MHP
Tim RowntreeEmail: mothercare@mhpgroup.com
Rachel FarringtonPhone: 07801 894577


© 2024 GlobeNewswire (Europe)
Tenbagger-Chance mit der nächsten BioNTech

Erinnern Sie sich, als Moderna und BioNTech von unbekannten Unternehmen zu globalen Marktführern wurden und frühzeitige Investoren reich belohnt haben?

Die Branche steht vor einem erneuten Innovationsschub – von bahnbrechenden Medikamenten bis hin zu revolutionären Therapien.

Warum sollten Sie dabei sein?

Sie sollten jetzt in Biotech-Aktien einsteigen, weil wir am Beginn einer neuen Ära der medizinischen Innovation stehen könnten! Gen- und Zelltherapien, personalisierte Medizin und bahnbrechende Technologien könnten das Gesundheitswesen revolutionieren – und die Aktienkurse in die Höhe schießen lassen.

Die nächste Erfolgsgeschichte im Biotechbereich warten nur darauf, entdeckt zu werden. Wer jetzt investiert, hat die Chance, von gigantischen Durchbrüchen und enormen Renditen zu profitieren. Warten Sie nicht, bis es zu spät ist - der nächste Biotech-Superstar könnte morgen schon durchstarten!

Verpassen Sie nicht diese Chance!

Fordern Sie sofort unseren brandneuen Biotech-Spezialreport an und erfahren Sie, welche 3 Biotech-Aktien das riesige Potenzial haben, Ihren finanziellen Erfolg zu sichern. Dieser Report ist komplett kostenlos und zeigt Ihnen zukunftsträchtige Investments im Biotech-Sektor.

Handeln Sie jetzt und sichern Sie sich Ihren kostenfreien Report!

Werbehinweise: Die Billigung des Basisprospekts durch die BaFin ist nicht als ihre Befürwortung der angebotenen Wertpapiere zu verstehen. Wir empfehlen Interessenten und potenziellen Anlegern den Basisprospekt und die Endgültigen Bedingungen zu lesen, bevor sie eine Anlageentscheidung treffen, um sich möglichst umfassend zu informieren, insbesondere über die potenziellen Risiken und Chancen des Wertpapiers. Sie sind im Begriff, ein Produkt zu erwerben, das nicht einfach ist und schwer zu verstehen sein kann.