Oxford Instruments plc Amendment to existing bank facilities
02 March 2015

Oxford Instruments plc, a leading provider of high technology tools and systems for industry and research, today announces that it has agreed with the club of banks that provide its Revolving Credit Facility to increase the facility by $37 million (approximately £25 million) from the current £100 million level and to extend the tenor of the facility to February 2020.  The existing facility was to mature in December 2018.

In addition, the covenant for Net Debt to EBITDA will increase from 3.0x to 3.5x for the three semi-annual covenant testing periods from 31 March 2015 to 31 March 2016 inclusive, at which time it will revert to the original level.

Trading conditions remain consistent with the Q3 trading update announcement that was made on 22 January 2015 and expectations are unchanged.

Jonathan Flint (Chief Executive) and Kevin Boyd (Finance Director) will host a conference call for analysts and investors on this announcement at 8.00am (UK time), today 2 March.  To join the call, please use the dial-in numbers below:
 
Dial:   +44 (0)20 3139 4830
PIN:    92006176#  

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Enquiries:

Oxford Instruments plc
Tel: +44 (0)1865 393200
Jonathan Flint, Chief Executive
Kevin Boyd, Group Finance Director

MHP
Tel: +44 (0)20 3128 8100
Rachel Hirst / Jamie Ricketts