Joules Group plc Joules establishes ESG-linked financing facility
06 Mayo 2021 - 1:00AM
RNS Non-Regulatory
TIDMJOUL
Joules Group plc
06 May 2021
Joules Group plc
("Joules" or the "Group")
Joules establishes ESG-linked financing facility
Joules, the premium British lifestyle brand, is pleased to
announce that it has extended its current funding arrangements with
Barclays Bank Plc ("Barclays"), that include a GBP25 million
revolving credit facility and GBP9 million term loan, to September
2024, and has converted the facility to an ESG-linked financing
arrangement.
The new financing agreement links the margin on the facility
with Joules' performance against three Sustainability Performance
Targets (SPTs) that are aligned with Joules' ESG focus areas. Under
the terms of the agreement, Joules will benefit from a lower
interest rate loan margin if the Group delivers on the following
targets:
- reducing its carbon emission intensity;
- delivering 100% more sustainable materials in the manufacturing of its products; and,
- increasing its employee engagement score
The details of the targets and progress against them will be
reported alongside the publication of the Group's annual results
and its Responsibly Joules update each year.
The arrangement reflects Joules' strong commitment to operating
responsibly and sustainably and the Group's continued focus on
delivering against its Responsibly Joules objectives, as outlined
in the Group's 2020 Annual Report, to the benefit of its employees,
communities, and the environment.
Marc Dench, CFO at Joules, said: "This extension to our
financing facilities further enhances the Group's robust financial
position and, importantly, further aligns Joules' sustainability
commitments, which are central to our business purposes, to the
Group's long-term financial strategy and performance.
With growth comes responsibility. The decision to link this
financing to our ESG focus areas reflects the Group's stated
commitments to create value for all stakeholders by reducing its
environmental footprint and positively impacting the people we work
with, the communities we're based in, and the world around us."
ENDS
Enquiries:
Joules Group plc Tel: +44 (0) 1858 435
255
Nick Jones, CEO Or Via Hudson Sandler
Marc Dench, CFO
Hudson Sandler (Financial PR) Tel: +44 (0) 20 7796
4133
Alex Brennan
Lucy Wollam
Peel Hunt LLP, Nominated Advisor Tel: +44 (0) 20 7418
and Joint Broker 8900
George Sellar
Andrew Clark
Liberum Capital Limited, Joint Broker Tel: +44 (0) 20 3100
2000
John Fishley
Edward Thomas
Joules - a premium lifestyle brand with an authentic British
heritage
Joules is a premium lifestyle brand with an authentic heritage.
The Joules brand is about family, fun and joy in the countryside.
Joules creates and curates exceptional products that brighten the
lives of its customer, delivered through a leading digital platform
that is supported by enticing experiences and stores that are
located in desirable locations relevant to the Joules customer's
lifestyle.
The Joules story began in 1989, when Tom Joule started selling
clothing on a stand at a country show in Leicestershire. Today, the
business designs and sells Joules branded clothing, footwear and
accessories for women, men and children ... with collections of
homeware, toiletries, lifestyle and pet product ranges that are
carefully designed and developed through selected licensing
partnerships
Joules' distinctive design-led products are complemented by an
increasingly broad customer offer provided through its digital
marketplace Friends of Joules, enabling third party brands to offer
curated, complementary products to the Joules customer base,
enhancing Joules' digital platform with thousands of products from
hundreds of creative businesses to give customers everything they
could ever need for a contemporary country lifestyle.
The Joules brand caters to its 1.5 million active customers
through its own digital platform, its retail stores in the UK and
at country shows and events. Joules extends its brand reach through
well-established 3(rd) party relationships - concessions, online
marketplaces and traditional wholesale - in the UK and
internationally.
Internationally, the brand has made good progress in its target
markets of the US and Germany, where the distinctive Joules brand
and products range resonate well with local customers.
International markets are served by wholesale partnerships and
dedicated Joules websites.
www.joules.com
www.joulesgroup.com
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