The Board is delighted to announce the completion of a financial restructuring, full details of which are disclosed on pages 8 and 9 of the Group financial statements for the year ended 30 June 2009, including a pro forma balance sheet to reflect the impact of the refinancing.
As a result of the refinancing:
- net third party debt as at 30 June 2009 would have been reduced by £63m to £176m;
- the ratio of net third party debt to earnings before interest, tax, depreciation and amortisation for the year to 30 June 2009 would have been reduced to 5.1x;
- the final maturity dates on the Group’s debt facilities have been extended;
- interest payments will be significantly reduced; and
- shareholder related debt at 30 June 2009 would have been reduced by £135m to £152m.
The Directors are confident that the refinanced Group will have the appropriate capital structure to enable it to invest in facilities, equipment and staff as required and look forward to growing both revenues and profits in the coming years. It is anticipated that the Group financial statements for the year to 30 June 2010 will be filed in October 2010.
Ian Pain
CFO
July 2010
This section contains financial information about the DX Group:
- the group financial statements for the year ending 30 June 2008
- the group financial statements for the year ending 30 June 2009
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