Venture Life Group PLC announced that, it has renewed its revolving credit facility (RCF) with Santander UK PLC and HSBC Innovation Bank Limited (HSBC Innovation). The RCF provides VLG with available borrowing of up to £30 million and is limited to a net amount of no more than 2.50 times the Company's consolidated EBITDA for the latest twelve month period, including the trailing EBITDA from any acquisitions (which temporarily increases to 2.75 times on the same basis in the 3 months immediately after an acquisition). In addition, the Group has access to a further £20 million facility, subject to certain conditions, on the same terms as the RCF.

The initial term of the RCF is 3 years and includes a further 1-year extension option, with interest to be charged at a range of 2.0%-2.85% based on the Group's existing leverage position above the Sterling Overnight Index Average ("SONIA") interest rate and Euro Interbank Offered Rate (EURIBOR) benchmark. VLG is able to use the funds drawn under the facility for acquisitions, working capital or other business uses. The Board has taken this opportunity to re-organise the corporate financing policies of the Group in an optimal manner taking into account the Group's medium and long-term needs.