LONDON (ShareCast) - (Sharecast News) - James Cropper said in an update on Monday that it has agreed revised repayment terms on its main UK banking facility, easing near-term cash flow pressures as it prepared to implement its strategic growth plans.
The AIM-traded company, which operates in advanced materials and paper and packaging, said the original repayment schedule for the £15m facility - drawn as of 31 March - had been adjusted.

Quarterly repayments of £0.75m due from June would now be reduced to £0.4m for the first six quarters through to September 2026.

Repayments would then rise to £0.75m for the following year, before increasing to £0.96m for the final 10 quarters through to March 2030.

James Cropper said the revision would enhance liquidity headroom while maintaining existing interest rates and financial covenants.

The board added it did not intend to pay dividends during the reduced repayment period to September 2026.

It said it would provide a further update on its strategic plans at its capital markets event on 18 June.

"We are pleased to have secured this agreement with our lenders which provides us with greater financial headroom and look forward to updating investors on our plans for the business on 18 June," said chief executive officer David Stirling.

At 1343 BST, shares in James Cropper were up 0.58% at 286.87p.

Reporting by Josh White for Sharecast.com.

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