Distribution Finance Cap. Hldgs PLC ENABLE guarantee extended
July 15 2024 - 2:00AM
RNS Regulatory News
RNS Number : 2703W
Distribution Finance Cap. Hldgs PLC
15 July 2024
15 July 2024
Distribution Finance Capital Holdings plc
("DF
Capital" or the "Company" together with its subsidiaries the
"Group")
British Business Bank ENABLE Guarantee
Extended
Distribution Finance Capital Holdings plc, a
specialist bank providing working capital solutions to dealers and
manufacturers across the UK, is pleased to announce that it has
signed an agreement with British Business Bank to increase its
ENABLE Guarantee from £250m to the fullest extent of
£350m.
The increased ENABLE Guarantee further improves
the Group's capital efficiency and, when considering its recent
profit upgrade, current capital and tier 2 capital, will support
the Group's loan book growth to c£850m, an increase from the
previously announced target of c£800m.
At a c£850m loan book, profits generated are
expected to continue to support further annualised organic loan
book growth in excess of 10% without the need for additional
dilutive tier 1 equity capital.
Carl
D'Ammassa, Chief Executive, commented: "British
Business Bank's continued support by upsizing the ENABLE Guarantee
helps unlock our near-term growth ambitions and our aim to assist
more SME dealers and manufacturers as we look to further scale the
bank and become a multi-product lender".
For
further information contact:
Distribution Finance Capital Holdings plc
|
|
Carl D'Ammassa - Chief Executive
Officer
|
+44 (0) 161 413 3391
|
Kam Bansil - Head of Investor
Relations
|
+44 (0) 7779 229508
|
http://www.dfcapital-investors.com
|
|
|
|
|
|
Panmure Liberum Limited (Nomad and Broker)
|
+44 (0) 203 100 2000
|
Chris Clarke
William King
Anake Singh
|
|
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
rns@lseg.com or visit
www.rns.com.
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.
END
MSCLLLFFZDLBBBV
Distribution Finance Cap... (LSE:DFCH)
Historical Stock Chart
From Jul 2024 to Aug 2024
Distribution Finance Cap... (LSE:DFCH)
Historical Stock Chart
From Aug 2023 to Aug 2024