Business
New Bank Facilities
New Bank Facilities.
About this update from Northern Bear Plc
[{"type":"text","content":"\n Northern Bear Plc\n06 November 2007\n\n\n Northern Bear Plc\n \n ('Northern Bear' or the 'Company')\n \n New Bank Facilities\n\nThe board of the Company ('Board') is pleased to announce that Northern Bear, \nthe integrated North East based building services and materials supplier, has \nentered into new banking arrangements with Yorkshire Bank which comprise available \nfacilities totalling £11 million, which are being provided on more favourable \nterms than those previously available to the Company.\n\nSince its admission to AIM on 19 December 2006, Northern Bear has completed the \nacquisitions of MGM Limited, Chirmarn Holdings Limited and Hastie Limited and the\nBoard remains encouraged by the increasing number of opportunities for potential \nacquisitions being presented to it.\n\nThe balance of the proceeds of the placing announced in August 2007, together with\nthe additional flexibility provided by the bank facilities, enables the Company to\nfurther progress its planned corporate strategy (being the acquisition of mature,\nNorth East based owner-managed businesses in the buildings services and materials\nsector which demonstrate consistent profitability and positive operating cash flow).\n\nEnd\n\nNorthern Bear Plc\nGraham Forrest, Chief Executive\n0191 371 2934\n\nStrand Partners Limited\nJames Harris / Braden Saunders\n020 7409 3494\n\nSt Helen's Capital Plc\nRuari McGirr\n020 7628 5582\n\n\n\n\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1803,"tagName":"div"}]