Circle Property plc Expects Final Dividend for the Year Ended 31 March 2019 to Be Maintained; Provides Financing Facility Update
The Company has a financing facility in place with RBS and HSBC for £100 million. The senior revolving facility is for £65 million (of which the Company has drawn £61.3 million) with an "accordion" option for a further £35 million. At 31 March 2020, the Company's LTV reflected 43.96% (excluding cash at bank) and the Company had £2.98 million cash reflecting a net LTV of 41.82%. In aggregate, the Company has £6.68 million of liquidity at its disposal.