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Distil plc Adjusts Loan Agreement to Support Ardgowan’s Expansion

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Distil plc Adjusts Loan Agreement to Support Ardgowan’s Expansion

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An announcement from Distil plc ( (GB:DIS) ) is now available.

Distil plc has announced a variation to its Convertible Loan Note Agreement with Ardgowan Distillery Company Limited, originally established in July 2021. This adjustment involves the subordination of Distil’s security interests to a new revolving credit facility secured by Ardgowan with Virgin Money. In compensation, Distil will receive an increased coupon rate and a higher equity conversion premium. The changes are designed to support Ardgowan’s continued development, including its eco-friendly distillery project, which aims to significantly expand production capacity and achieve carbon neutrality.

Spark’s Take on GB:DIS Stock

According to Spark, TipRanks’ AI Analyst, GB:DIS is a Neutral.

Distil plc’s overall stock score is primarily impacted by weak financial performance, characterized by declining revenues, profitability, and cash flow issues. While corporate events offer potential growth prospects, valuation concerns and technical analysis indicate a mixed market sentiment.

To see Spark’s full report on GB:DIS stock, click here.

More about Distil plc

Distil plc is a company that owns premium drinks brands, including Blackwoods Gin and Vodka, RedLeg Spiced Rum, and Blavod Black Vodka.

Average Trading Volume: 16,815,534

Technical Sentiment Signal: Hold

Current Market Cap: £3.41M

See more data about DIS stock on TipRanks’ Stock Analysis page.

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