Leading pan-African technology solutions group Liquid Intelligent Technologies (https://www.Liquid.Tech), a business of Cassava Technologies, today announces the extension of Liquid’s net debt:EBITDA covenant threshold in respect of its ZAR term loan and RCF.
Earlier this year we engaged with our lending partners on a pre-emptive basis due to the prospect of further exchange rate volatility in certain markets. Following constructive discussions we are pleased to announce deferrals in the step down schedule for the net debt:EBITDA covenant threshold in respect of our ZAR term loan and RCF.
As a result, the step down from 4.0x to 3.5x that was due to take place in May 2023 will now occur in February 2024 and a second step down from 3.5x to 3.0x that was due to take place in May 2024 will now occur in August 2024. All other terms remain unchanged.
Notice of full year results
The Group intends to publish its full year results on Thursday 22 June 2023.
Distributed by APO Group on behalf of Liquid Intelligent Technologies.
For further information please contact:
Mark Reynolds, Head of Investor Relations
M: +44 (0) 7468 846195
About Liquid Intelligent Technologies:
Liquid Intelligent Technologies is a business of Cassava Technologies, a pan-African technology group with operations in over 25 countries in Africa. Liquid has firmly established itself as the leading provider of pan-African digital infrastructure with a 100,000 km-long fibre broadband network and satellite connectivity that provides high-speed access to the Internet anywhere in Africa. Liquid is also leveraging its digital network to provide Cloud and Cyber Security solutions through strategic partnerships with leading global players. Liquid is a comprehensive technology solutions group that provides customised digital solutions to public and private sector enterprises and SMEs across the continent. https://www.Liquid.Tech/