STT Straight

TIDMSTT

RNS Number : 0776G

Straight PLC

03 June 2013

 
 Date:              3 June 2013 
 On behalf of:      Straight plc ("Straight" the "Company" 
                     or "the Group") 
 Embargoed until:   0700hrs 
 

Straight plc

Three Year Financing Agreement

Straight plc, the environmental products and services group, (AIM: STT), is pleased to announce that it has successfully refinanced its existing facilities in a three year financing agreement, that will expand working capital facilities to fund future growth.

Jonathan Straight, Chief Executive of Straight plc, commented:

"We are very pleased to have agreed this facility, which provides a firm base upon which the Group can build. We look forward to further updating the market at the preliminary results."

End

For further information: please contact:

 
 Straight plc 
 Jonathan Straight, Chief 
  Executive                       07977 002 366 
 
 Redleaf Polhill 
 Rebecca Sanders-Hewett /Jenny 
  Bahr                            0207 382 4730 
 
 Cenkos Securities 
 Ivonne Cantu (Nomad)             0207 397 8980 
 Christian Hobart (Sales) 
 

Notes for editors:

About Straight plc

-- Straight plc provides environmental products and services to both the UK market and overseas.

-- The Group is the UK's leading manufacturer and supplier of specialist kerbside recycling containers, as well as being a key supplier of a broad range of waste and recycling container solutions.

-- Founded in 1993 by the current Chief Executive, Jonathan Straight, the business has since supplied more than 25 million kerbside boxes, baskets and caddies to local authorities across the UK, securing its position as the industry leader.

-- The business operates through two divisions:

o The core Trade Business supplying products in bulk to local authorities, utilities, the waste industry, retailers and other businesses

o The Retail Business supplying a range of proprietary environmentally friendly consumer products directly to the public, often in partnership with a local authority or a utility.

-- Almost two thirds of the products the Group supplies are now produced in Straight's own factory.

-- Straight plc has established diverse overseas sales channels for its products, some of which are manufactured locally to their markets in North America and in Australia. Other markets are serviced from UK production.

Further information about the company and its products can be found at: www.straight.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

END

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