Last checked at 28 Mar 2011 07:00
Shanks Group Plc
Pre-Close Statement and Institutional Investor & Analyst site visit
Shanks Group Plc, Europe's largest listed independent waste management business is tomorrow hosting an event for analysts and institutional investors at its facilities in East London and Amsterdam.
Trading / Outlook
We continue to trade in line with our expectations and the outlook as set out in the Interim Management Statement issued on 4 February 2011 remains unchanged.
Re-Financing
Following the successful completion of the €100m, 2015 Benelux retail bond in October 2010 and the €200m, 2015 bank financing in February 2011 an additional €40m of longer term debt with maturity in April 2018 has been secured from Pricoa Capital Group Limited. This completes the re-financing programme with medium and longer term debt secured at an overall interest cost of c5% p.a. or less.
Growth Investment Programme
As previously announced, during the recession we have invested approximately £100m in growth projects. Plans are well advanced for continued investment, with a particular emphasis on the UK market, where we believe the regulatory and legislative drivers are in place to support significant growth opportunities. We will provide more details of these continued investment plans at the announcement of our 2010/11 full year results.
Tomorrow's event for analysts and institutional investors is intended to provide a greater understanding of the Group's operations and strategy and no new material information will be provided. The presentations will be posted on the Shanks Group's website - http://www.shanksplc.co.uk
For further information, please contact:
Austen Lees, Head of Corporate Communications, Shanks Group Plc
Telephone +44 (0)1908 650650, Mobile +44 (0)7773 813210, email austen.lees@shanks.co.uk
College Hill
Mike Davies
Telephone +44 (0)20 7457 2051, Mobile +44 7527348536
Email mike.davies@collegehill.com
Switchboard: +44 (0)20 7457 2020