The Company has agreed an extension to the term of its existing £60 million loan facility with HSBC (“HSBC Facility”) from December 2024 to December 2026.

This was the earliest maturing debt in the Group and extends our weighted average term from 5.1 years to 5.2 years.

The HSBC Facility maintains the existing margin of 2.05 per cent. per annum above SONIA and benefits from an existing interest rate cap until December 2024 at 2.50 per cent.

The Company expects to hedge the cost of the HSBC Facility during the additional term to expiry in due course.