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    We aim to provide our customers
    across all sectors a market leading,
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    is to provide our customers
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    Whether it’s a freestanding hot drink
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    machine solution which fit your
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  • Subsidiaries

    Within the Uvenco group, we
    have two other operating
    Snack-in-the-Box & Drinkmaster


    In today’s environment our
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    A bespoke on site self-serve convenience
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    fresh products at your leisure for best


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Debt restructuring


Uvenco UK plc

Debt restructuring

Uvenco UK plc ("Uvenco", the "Company" or the "Group") announces that it has today entered into an agreement to settle the Group's £2.4 million outstanding bank facility for £1.0 milion, payable in cash.

On the same date the Company, through its subsidiaries Uvenco Limited, Simply Drinks Limited and Drinkmaster Limited, has entered into a £1.3 million debt facility agreement ("Reward Agreement") with Reward Invoice Finance Limited, part of the Reward Finance Group (''Reward''), a Manchester and Leeds based alternative lender, in order to provide the funds to satisfy the bank facility settlement, as well as additional working capital. The terms of the Reward Agreement reflect the expected short-term nature of the debt and are structured around a confidential invoice discounting facility, together with a charge on other balance sheet assets including property and vending machines. Cash interest of 1.75% per month will be payable monthly in arrears on the principal outstanding. The loan has a minimum term of 2 months after which the Group can terminate, whilst Reward cannot terminate before August 2017, in each case on one month's notice. Reward have also been granted a personal guarantee by Boris Belotserkovsky in relation to this facility. Initially the Group will be borrowing £1.2 million, with a further £0.1 million available conditional upon the Company arranging a new equity investment of £0.1 million. The Group intends to take this up in due course.


Sergei Kornienko Chief Executive of the Company, commented: "This one off opportunity provided us with a significant further step towards the reshaping of our Balance Sheet. We are indebted to Reward for how quickly they have enabled us to maximise the opportunity, however the ultimate success of the transaction will depend upon the speed with which we replace the Reward lending with more conventional debt.''


Uvenco UK plc Tel No. 020 8879 8300
Sergei Kornienko
Peter Goodman

Stockdale Securities Tel No. 020 7601 6100
Tom Griffiths
Richard Johnson

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.


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