Corero Network Security PLC New borrowings facility (7450U)
April 08 2021 - 1:00AM
UK Regulatory
TIDMCNS
RNS Number : 7450U
Corero Network Security PLC
08 April 2021
8 April 2021
Corero Network Security plc
("Corero" or the "Company")
New borrowings facility
Corero Network Security plc (AIM: CNS), a leading provider of
real-time, high-performance, automatic Distributed Denial of
Service (DDoS) cyber defense solutions, is pleased to announce that
it has entered into a new borrowing facility for up to GBP3.0
million (c$.4.1 million) with its existing banking partner.
The new borrowing facility comprises: a drawn GBP2.0m term loan
facility and an undrawn GBP1.0m revolving credit facility; for a
three-year term; with terms and conditions at par or better than
the existing facility. The net proceeds of this new facility will
be used for working capital purposes and the Company's on-going
investment programme to support Corero's growth strategy through to
profitability.
This announcement contains inside information for the purposes
of article 7 of the Market Abuse Regulation (EU) 596/2014 as
amended by regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310. With the publication of this announcement,
this information is now considered to be in the public domain.
Enquiries:
Corero Network Security plc
Lionel Chmilewsky, Chief Executive Tel: +44(0)1895
Officer 876 382
Neil Pritchard, Group Finance Director
C anaccord Genuity Limited Tel: +44(0)20
(Nominated Adviser and Broker) 7523 8000
Simon Bridges / Andrew Potts
Vigo Communications Tel: +44(0)20
7390 0230
Jeremy Garcia / Antonia Pollock
corero@vigocomms.com
About Corero Network Security
Corero Network Security plc is a global leader in real-time,
high-performance, automatic DDoS cyber defense solutions. Both
Service and Hosting providers, alongside digital enterprises across
the globe rely on Corero's award winning cybersecurity technology
to eliminate the threat of Distributed Denial of Service (DDoS) to
their digital environment through automatic attack detection and
mitigation, coupled with network visibility, analytics and
reporting. Corero's industry leading SmartWall and SecureWatch
technology provides scalable protection capabilities against
external DDoS attackers and internal DDoS botnets in the most
complex edge and subscriber environments, while enabling a more
cost-effective economic model than previously available. Corero's
key operational centers located in Marlborough, Massachusetts, USA
and Edinburgh, UK, with the Company's headquarters in Amersham, UK.
The Company is listed on the London Stock Exchange's AIM market
under the ticker
CNS. For more information, visit www.corero.com
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END
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