Northern Bear Plc
06 November 2007
Northern Bear Plc
('Northern Bear' or the 'Company')
New Bank Facilities
The board of the Company ('Board') is pleased to announce that Northern Bear,
the integrated North East based building services and materials supplier, has
entered into new banking arrangements with Yorkshire Bank which comprise available
facilities totalling £11 million, which are being provided on more favourable
terms than those previously available to the Company.
Since its admission to AIM on 19 December 2006, Northern Bear has completed the
acquisitions of MGM Limited, Chirmarn Holdings Limited and Hastie Limited and the
Board remains encouraged by the increasing number of opportunities for potential
acquisitions being presented to it.
The balance of the proceeds of the placing announced in August 2007, together with
the additional flexibility provided by the bank facilities, enables the Company to
further progress its planned corporate strategy (being the acquisition of mature,
North East based owner-managed businesses in the buildings services and materials
sector which demonstrate consistent profitability and positive operating cash flow).
End
Northern Bear Plc
Graham Forrest, Chief Executive
0191 371 2934
Strand Partners Limited
James Harris / Braden Saunders
020 7409 3494
St Helen's Capital Plc
Ruari McGirr
020 7628 5582
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