Source - LSE Regulatory
RNS Number : 6331V
15 April 2021


15 April 2021


 ("CEPS" or the "Company")


Hickton Group Limited - Coronavirus Business Interruption Loan



The Board of CEPS announces that Hickton Group Limited ("HGL"), the Company's 54.7% subsidiary, has entered into a four-year £500,000, secured Coronavirus Business Interruption Loan ("CBIL") with Santander UK plc. The CBIL attracts an annual interest rate of 3.8% over Bank of England base rate, commencing on the date of drawdown of the CBIL.  The CBIL is secured by means of a debenture over all of the assets and undertakings of HGL, including all associated subsidiaries. As such, the existing intercreditor deed dated 11 March 2020 containing debentures and guarantees given by HGL and its subsidiaries in favour of Santander UK, has been amended to include the recently acquired subsidiaries Millington Lord Ltd, Morgan Lambert Limited and Qualitas Compliance Limited


The CBIL proceeds will be received by HGL on 15 April 2021 and will be utilised for general corporate purposes. The CBIL is repayable in 11 consecutive equal quarterly payments commencing approximately 12 months after drawdown with a further final payment of the same amount being payable on expiry of the CBIL ("Payment Dates"). Accrued interest on the CBIL is also repayable on each Payment Date. The quantum of the repayments may be increased in order to repay the CBIL faster subject to certain conditions.


The CBIL agreement contains a number of ongoing obligations, financial covenants, confirmations and undertakings which are usual for an agreement of this nature which HGL and, where appropriate its subsidiaries, must comply with to prevent triggering an event of default whereby the CBIL or any part of it could be cancelled or called in for immediate repayment.


This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).


The Directors of the Company accept responsibility for the content of this announcement.





Vivien Langford, Group Finance Director


+44 1225 483030


Cairn Financial Advisers LLP

James Caithie / Sandy Jamieson /

Ludovico Lazzaretti


+44 20 7213 0880



Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts


0p (0.00%)
delayed 06:50AM