Lok'n Store Group (LOK)

Sector:

Real Estate

Index:

FTSE AIM All-Share

 541.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 546.00
  • 52 Week Low: 355.00
  • Currency: UK Pounds
  • Shares Issued: 29.59m
  • Volume: 8,209
  • Market Cap: £160.06m
  • RiskGrade: 70

Lok'nStore agrees new £75m facility to fund new store development

By Josh White

Date: Thursday 25 Apr 2019

LONDON (ShareCast) - (Sharecast News) - Self storage provider Lok'nStore announced the agreement of a new £75m five-year revolving credit facility on Thursday, which would replace its existing £50m facility and provide funding for site acquisitions and development, to support the group's growth plans.
The AIM-traded company said the facility was a combined agreement with Lloyds Bank and the Royal Bank of Scotland, and would run until 2024.

It said it was "closely aligned" to the terms of its previous facility.

The facility also provided for a £25m accordion uplift to £100m, which would run to 2024, with an extension option for a further two one-year extensions.

Lok'nStore said the interest rate was set at LIBOR plus a margin of between 1.50% and 1.75%, based on a loan-to-value covenant test.

There were no additional bank financial covenants in the new facility, the board said, which would provide increased flexibility to invest in new store development.

"This new, substantially larger, banking facility underlines the financial strength of Lok'nStore with its modest gearing, valuable property assets and strong and growing cash flow," said Lok'nStore chief executive officer Andrew Jacobs.

"[It] will enable the group to continue to execute its current growth strategy."

Lok'nStore said it would announce its preliminary interim results for the six months ended January on 29 April.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

LOK Market Data

Currency UK Pounds
Share Price 541.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 546.00
52 Week Low 355.00
Volume 8,209
Shares Issued 29.59m
Market Cap £160.06m
RiskGrade 70

LOK Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
91.19% below the market average91.19% below the market average91.19% below the market average91.19% below the market average91.19% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
88.41% above the market average88.41% above the market average88.41% above the market average88.41% above the market average88.41% above the market average
93.33% above the sector average93.33% above the sector average93.33% above the sector average93.33% above the sector average93.33% above the sector average
Income
84.56% below the market average84.56% below the market average84.56% below the market average84.56% below the market average84.56% below the market average
95.12% below the sector average95.12% below the sector average95.12% below the sector average95.12% below the sector average95.12% below the sector average
Growth
5.04% above the market average5.04% above the market average5.04% above the market average5.04% above the market average5.04% above the market average
29.82% above the sector average29.82% above the sector average29.82% above the sector average29.82% above the sector average29.82% above the sector average

What The Brokers Say

Strong Buy 0
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 1
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

LOK Dividends

  Latest Previous
  Interim Final
Ex-Div 09-May-19 29-Nov-18
Paid 14-Jun-19 11-Jan-19
Amount 3.67p 7.67p

Trades for 13-Sep-2019

Time Volume / Share Price
16:46 1,300 @ 536.52p
16:46 1,300 @ 536.52p
16:46 1,300 @ 541.35p
16:46 1,300 @ 541.35p
16:32 3,800 @ 540.00p

LOK Key Personnel

CEO Andrew Jacobs
Finance Director Ray Davies

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