Judges Scientific (JDG)

Sector:

Engineering

Index:

FTSE AIM 100

7,750.00p
   
  • Change Today:
      10.00p
  • 52 Week High: 8,640.00p
  • 52 Week Low: 5,680.00p
  • Currency: UK Pounds
  • Shares Issued: 6.32m
  • Volume: 236
  • Market Cap: £489.46m
  • RiskGrade: 163
  • Beta: 0.59

Judges Scientific enters into new £60m banking facilities with Lloyds

By Josh White

Date: Wednesday 26 May 2021

LONDON (ShareCast) - (Sharecast News) - Scientific instrument sector investor Judges Scientific has entered into new banking facilities with Lloyds Banking Group, it announced on Wednesday, to replace its existing arrangements with Lloyds, which were for a total of £35m.
The AIM-traded firm said the new facility would provide greater acquisition financing capacity, both in terms of higher frequency and larger deals, in support of its buy-and-build strategy.

It said the facility was for a total of £60m, consisting of a £19m term loan, a committed £35m revolving credit facility, and a £6m accordion facility which could be drawn at the discretion of the bank.

The facility replaced Judges' previous facilities, of which £19m was drawn.

Judges Scientific said the new facility had a five-year term, with covenants and interest consistent with the previous bank facilities.

The term loan would amortise on a straight-line basis over the term by quarterly instalments, and the revolving credit facility was repayable in a bullet at the end of the term.

Judges said the accordion facility would increase by the amount paid off the term loan, keeping the overall facility at £60m throughout the borrowing term.

The banking covenants remained similar to the previous banking arrangements, with a gearing of no greater than 2.5x adjusted EBITDA, interest cover no less than 3x, and adjusted EBITDA cover of greater than £7.5m plus 75% of any future acquired company's EBITDA.

It said the existing lending facilities via Bordeaux Acquisition, Judges' 88%-owned subsidiary, remained unchanged.

Bordeaux owns the trading companies of Deben UK and Oxford Cryosystems.

"We are delighted that Lloyds and its relationship team have continued to show their long-term desire to stand behind the group's growth trajectory," said group finance director Brad Ormsby.

"This facility will provide the group with a substantially larger springboard to continue with the execution of its buy and build growth strategy."

At 1134 BST, shares in Judges Scientific were up 1.92% at 6,095p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

JDG Market Data

Currency UK Pounds
Share Price 7,750.00p
Change Today 10.00p
% Change 0.13 %
52 Week High 8,640.00p
52 Week Low 5,680.00p
Volume 236
Shares Issued 6.32m
Market Cap £489.46m
Beta 0.59
RiskGrade 163

JDG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
92.26% below the market average92.26% below the market average92.26% below the market average92.26% below the market average92.26% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
75.69% above the market average75.69% above the market average75.69% above the market average75.69% above the market average75.69% above the market average
65.71% above the sector average65.71% above the sector average65.71% above the sector average65.71% above the sector average65.71% above the sector average
Income
93.29% below the market average93.29% below the market average93.29% below the market average93.29% below the market average93.29% below the market average
88.89% below the sector average88.89% below the sector average88.89% below the sector average88.89% below the sector average88.89% below the sector average
Growth
14.40% above the market average14.40% above the market average14.40% above the market average14.40% above the market average14.40% above the market average
75.00% above the sector average75.00% above the sector average75.00% above the sector average75.00% above the sector average75.00% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
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JDG Dividends

  Latest Previous
  Interim Final
Ex-Div 07-Oct-21 10-Jun-21
Paid 05-Nov-21 09-Jul-21
Amount 19.00p 38.50p

Trades for 01-Dec-2021

Time Volume / Share Price
08:28 134 @ 7,870.00p
08:20 63 @ 7,870.00p
08:04 39 @ 7,750.00p

JDG Key Personnel

Chair Alexander Hambro
CEO David Cicurel

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