Lavendon : Agreement of New Debt Facilities

29 August 2014

Lavendon Group plc

Agreement of new debt facilities

Lavendon Group plc ("the Group"), the market leader in the rental of powered access equipment in Europe and the Middle East, today announces that it has refinanced its funding arrangements.

With effect from 29 August 2014, the Group's existing £50 million and €60 million revolving bank facilities, originally scheduled for renewal in July 2016, have been extended to July 2019 at a lower margin cost. In addition, the Group has issued two new loan notes on the US Private Placement market with a total value of €35 million. The first loan note of €17.5 million will mature in August 2021 and the second loan note, also of €17.5 million, will mature in August 2024. The Group's existing US Private Placement of €60 million maturing in July 2019 will remain in place.

Following this refinancing exercise, the Group has combined debt facilities of c.£175 million which provides a robust medium to long-term diversified financing package, with significant liquidity, that will support the development of the Group in the coming years.

Ends

For further information, please contact:

George Parker