Business
Proposed Refinancing & General Meeting Notice
ProService Building Services Marketplace Plc is proposing a significant refinancing package, including up to £25,000,000 in convertible loan notes and a £35,000,000 asset-based lending revolving credit facility. This refinancing aims to replace existing indebtedness, which currently stands at approximately £37.9 million and matures on September 30, 2026. The company will hold a general meeting on July 17, 2026, to seek shareholder approval for these proposals, which are crucial for the Group's continued operations and strategic execution. Disclaimer*
About this update from Proservice Building Services Marketplace Plc
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED AND ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014 (AS AMENDED) AS IT FORMS PART OF THE DOMESTIC LAW OF THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (AS AMENDED) ("MAR"). FOR IMMEDIATE RELEASE 29 June 2026 PROSERVICE BUILDING SERVICES MARKETPLACE PLC PROPOSED REFINANCING COMPRISING UP TO £25,000,000 CONVERTIBLE LOAN NOTES AND £35,000,000 ASSET BASED LENDING REVOLVING CREDIT FACILITY and NOTICE OF GENERAL MEETING ProService Building Services Marketplace Plc ("PRO" or the "Company"), the asset-light, pure-play digital marketplace business, today announces the proposed refinancing of the Group's existing indebtedness (the "Proposed Refinancing"), comprising: · the issue of up to £25,000,000 floating rate secured convertible loan notes 2031 (the "Convertible Loan Notes") to Ravensworth (International) Limited ("Ravensworth") (the "CLN Issue"); and · the entry into a £35,000,000 asset-based lending revolving credit facility (the "ABL Facility") with Leumi UK Group Limited (the "ABL Lender"). The CLN Issue and the ABL Facility are interconditional and will complete substantially simultaneously. The CLN Issue cannot be effected using the Company's existing share allotment authorities and accordingly the Proposed Refinancing is conditional upon Shareholder approval at the General Meeting. The Board expects to today publish a Circular convening a general meeting of shareholders which will be held at Travers Smith LLP, 3 Stonecutter Street, London EC4A 4AW at 12:00 p.m. on 17 July 2026 to seek approval from the PRO shareholders in respect of the Proposed Fundraising. A copy of the Circular, Notice of Meeting and Form of Proxy will shortly be available from the 'News & Resources' section of the Company's investor portal at https://www.hssproservice.com/investors/resources-and-documents. BACKGROUND TO AND REASONS FOR THE PROPOSED REFINANCING Overview of ...
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