RM plc: Bank covenants waiver agreement (1783833)

RM plc (RM.) 
RM plc: Bank covenants waiver agreement 
29-Nov-2023 / 07:00 GMT/BST 
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29 November 2023 
 
RM plc 
Bank covenants waiver agreement 
 
RM plc, a global educational technology, digital learning and assessment solution provider ("RM", the "Company"), 
announces that it has reached agreement with its lenders to extend its unconditional covenant waiver to cover the 30 
November 2023 covenant test date. 
 
As announced in its half year results on 9 August, the Company entered into discussions with its lenders to agree 
suitable waivers and amendments to its existing Facility. On 29 August the renegotiation of the waiver for the period 
ended 31 August 2023 was announced. In today's announcement the Company confirms that it has received waivers from its 
lenders for its 30 November EBITDA financial covenant and continues to comply with the conditions of each lender with 
regards to that waiver and the respective Facility Agreement. This concludes the waiver negotiations for the financial 
year ending 30 November 2023. 
 
The renegotiation of an amendment and extension of its lending facility, which matures in July 2025 is ongoing and the 
Company still expects the renegotiation to have concluded by the end of Q1 2024. 
 
Mark Cook, Chief Executive of RM, commented: 
 
"I am grateful for the continuing support of our lenders and the amendment to our facility's covenants for the full 
year. Both lenders have held long term supportive relationships with the Company over many years and continue to 
support RM as it embarks on its plans to simplify the business, reduce its net debt, and return the Company to growth 
and profitability." 
 
 
Enquiries: 
RM plc investorrelations@rm.com 
Mark Cook, Chief Executive Officer 
Simon Goodwin, Chief Financial Officer 
Fiona O'Nolan, Investor Relations 
 
 
Notes to editors 
RM provides market-leading products and services to educational institutions, exam bodies and international governments 
which improve, simplify and support education and learning. 
The education sector is transforming, and RM is well positioned to capitalise on this through its three divisions. 
     -- RM Assessment is a leading provider of assessment software, supporting exam awarding bodies, 
    universities, and governments worldwide to digitise their assessment delivery 
     -- RM Technology is a market-leading supplier of ICT software, technology and services to UK schools and 
    colleges 
     -- RM Resources is the established provider of education resources for early years, primary schools, and 
    secondary schools across the UK and to 80 countries internationally. 
 
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Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
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ISIN:           GB00BJT0FF39 
Category Code:  MSCH 
TIDM:           RM. 
LEI Code:       2138005RKUCIEKLXWM61 
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State 
Sequence No.:   287842 
EQS News ID:    1783833 
 
End of Announcement  EQS News Service 
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(END) Dow Jones Newswires

November 29, 2023 02:00 ET (07:00 GMT)

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