Norman Broadbent PLC New and Enhanced Working Capital Facility (5767L)
09 Septiembre 2019 - 1:00AM
UK Regulatory
TIDMNBB
RNS Number : 5767L
Norman Broadbent PLC
09 September 2019
9 September 2019
Norman Broadbent plc
("Norman Broadbent" or the "Group")
New and Enhanced Working Capital Facility
Norman Broadbent Group (AIM: NBB) - a leading London listed
Professional Services firm offering a diversified portfolio of
integrated Leadership Acquisition & Advisory Services (Board
& Leadership Search, Senior Interim Management, Research &
Insight, Leadership Consulting & Assessment, and executive
level Talent Solutions) - is pleased to announce that they have
agreed a GBP2,000,000 working capital facility with Bibby Financial
Services ("BFS"). The facility replaces an existing facility of
GBP1,500,000, on more favourable terms, and will free up
c.GBP500,000 of additional working capital for the Group.
Norman Broadbent has obtained the funding facility to help fuel
further growth. The additional working capital will allow the Group
to continue to pursue its strategy, including increasing its market
share and penetrating a wider range of clients.
Mike Brennan, Group CEO, Norman Broadbent Group Plc, said:
"Having been through a successful transformation, we are now in
growth mode and believe the additional working capital will
continue to allow the Group to pursue its growth strategy. As an
ambitious business, we have recently reviewed our strategic service
providers to ensure we have the best partners in place to help us
drive growth. We believe that BFS are well positioned to help us
achieve our corporate growth goals thus benefiting our clients,
shareholders, colleagues, and the company as a whole."
Chris Farnworth, Corporate Manager, Bibby Financial Services,
said:
"Norman Broadbent Group has an unrivalled history and heritage
as a provider of specialist Leadership Acquisition & Advisory
Services. Having spent significant time with Mike and his team, we
understand the journey ahead and business trajectory hence
structured a facility to best improve cash flow.
"BFS go to great lengths to ensure our clients view us as
partners, rather than just financiers. We are delighted that Norman
Broadbent Group has bought into our ethos, and we look forward to
joining them on the next stage of their journey."
For further information, please contact:
Norman Broadbent plc
Mike Brennan / Will Gerrand 020 7484 0000
WH Ireland Limited
Adrian Hadden / Jessica Cave / Matthew
Chan 020 7220 1666
ENDS
About Norman Broadbent Group plc
Norman Broadbent plc is quoted on AIM. With a 40-year heritage,
the Company is a leading London listed Professional Services firm,
offering a diversified portfolio of integrated Leadership
Acquisition & Advisory Services (Board & Leadership Search,
Senior Interim Management, Research & Insight, Leadership
Consulting & Assessment, and executive level Talent
Solutions).
To find out more about Norman Broadbent, visit:
www.normanbroadbent.com
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END
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