Panther Securities PLC Reduction in Swap liability position (0211Y)
02 Septiembre 2022 - 1:01AM
UK Regulatory
TIDMPNS
RNS Number : 0211Y
Panther Securities PLC
02 September 2022
2 September 2022
Panther Securities PLC
(the "Company")
Reduction in Swap liability position
Panther Securities PLC announces in advance of its interim
results for the six months ended 30 June 2022 due to be released
later this month that the Company has seen a material fall in its
swap liability position. As at 31 December 2021, the swap liability
position was GBP15.3 million. The Company reports that as at 30
June 2022, the unaudited swap liability position had fallen to
GBP3.9 million and that as at 31 August 2022 the unaudited
liability had fallen further to GBP0.4 million.
The Company has two financial derivatives which comprise the
current swap liability. The first is at a fixed rate of 2.01% on
GBP25 million with circa nine years to run. The second is at a
fixed rate of 5.06% (dropping to 3.4% on 1 September 2023 for the
remainder of its term) on GBP35 million with circa 16 years to
run.
The combined liability under the financial derivatives, which is
a non-cash liability, has fluctuated significantly since they were
first entered into (mainly due to their long dated nature and large
swings in interest rate expectations) and the Directors believe
that this will continue to be the case until their maturity dates.
However, given the current market expectation for rising rates, the
value of these instruments is benefiting from this market
outlook.
The two swap financial instruments also protect the Company from
the cost of rising interest rates on GBP60 million of bank loans
(being the original purpose they were entered into).
For further information:
Panther Securities plc: Tel: 01707 667 300
Andrew Perloff / Simon Peters
Allenby Capital Limited (Nomad and Joint Broker) Tel: 020 3328
5656
David Worlidge/ Alex Brearley
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDFLFERAEILIIF
(END) Dow Jones Newswires
September 02, 2022 02:01 ET (06:01 GMT)
Panther Securities (LSE:PNS)
Gráfica de Acción Histórica
De Ago 2024 a Sep 2024
Panther Securities (LSE:PNS)
Gráfica de Acción Histórica
De Sep 2023 a Sep 2024