DFCH Distribution Finance Capital Holdings Plc

TIDMDFCH

RNS Number : 7046J

Distribution Finance Cap. Hldgs PLC

18 August 2023

18 August 2023

Distribution Finance Capital Holdings plc

("DF Capital" or the "Company" together with its subsidiaries the "Group")

Increase in ENABLE Guarantee commitment

Distribution Finance Capital Holdings plc, the specialist bank providing working capital solutions to dealers and manufacturers across the UK, is pleased to announce that it has agreed with the British Business Bank to increase the ENABLE Guarantee from the initial GBP175m agreed in January 2023 to GBP250m effective from 31 August 2023. As previously announced, this may be increased further up to GBP350m in the future.

This ENABLE Guarantee commitment provides the Group with incremental capacity to scale its loan book without the need for additional Tier 1 equity capital by up to GBP105m on the basis of this GBP250m facility and up to GBP150m if the facility is increased to GBP350m.

Additionally, the Group is well progressed with its plans to raise non-dilutive Tier 2 capital to further support its product diversification and medium-term growth strategy which, together with the ENABLE Guarantee, would allow the loan book to reach in excess of GBP800m without requiring additional Tier 1 capital.

Carl D'Ammassa, Chief Executive, commented: "This additional support from the ENABLE Guarantee further strengthens our relationship with the British Business Bank, being a key foundation of our capital strategy, and supports our growth ambitions into 2024."

For further information contact:

 
 Distribution Finance Capital Holdings 
  plc 
 Carl D'Ammassa - Chief Executive Officer    +44 (0) 161 413 3391 
 Kam Bansil - Head of Investor Relations     +44 (0) 7779 229508 
 http://www.dfcapital-investors.com 
 
 Investec Bank plc (Nomad and Joint 
  Broker)                                   +44 (0) 207 597 5970 
 David Anderson 
  Bruce Garrow 
  Harry Hargreaves 
  Maria Gomez de Olea 
 
 Liberum Capital Limited (Joint Broker)     +44 (0) 203 100 2000 
 Chris Clarke 
  Lauren Kettle 
 

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August 18, 2023 02:00 ET (06:00 GMT)

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