RGF: Amendments to current funding arrangements

Liverpool / UK. (rgf) British Real Good Food Company PLC (RGF) announces that, following negotiations with the Company’s three major shareholders, NB. Ingredients Limited (Napier Brown), Omnicane International Investors Limited (Omnicane), and certain funds managed by Downing LLP (Downing), together the «Major Shareholders», it has now finalised an amendment deed (the «Amendment Deed»). The Agreements have been amended such that the final repayment dates of each of the Agreements have been extended to 30 June 2020 (the «Final Repayment Date») with no change to the interest rate payable by the Company pursuant to each Agreement. In addition, the Amendment Deed provides that, subject to the provisions of an intercreditor agreement between Lloyds Banking Group and each of the Major Shareholders, an amount of cashflow reasonably determined by the Company as surplus to working capital and prudent to be applied in partial prepayment of the funds owed to the Major Shareholders pursuant to the Agreements, shall be applied as such pari passu to each individual Agreement, as funds become available on the basis of a continual review of the position. It is also agreed in the Amendment Deed that several Agreements will be subject to different redemption premium upon early repayment. The new arrangement replaces previous agreements – for details please visit the Company’s web site.