Eagle Eye Solutions Group PLC Eagle Eye extends credit facility with Barclays (8128S)
June 28 2018 - 1:00AM
UK Regulatory
TIDMEYE
RNS Number : 8128S
Eagle Eye Solutions Group PLC
28 June 2018
28 June 2018
Eagle Eye Solutions Group plc
("Eagle Eye", the "Group", or the "Company")
Eagle Eye extends credit facility with Barclays to support Tier
1 expansion and wins
The Company has agreed a GBP2.0m extension to its existing
facility with Barclays Bank PLC ("Barclays"). As a result the
Company now has a GBP5.0m revolving credit facility available until
30 June 2020.
Eagle Eye has demonstrated its ability to both win and deploy
significant Tier 1 contracts over the last 12 months with Loblaw in
Canada going live, the deployment of the AIR platform to deliver
improved digital customer marketing for John Lewis and extending
services with our other Tier 1 customers. The funds available
through the new facility will strengthen the Company's balance
sheet as it deepens relations with existing Tier 1 customers and
explores opportunities with new ones both nationally and
internationally.
Tim Mason, Chief Executive Officer, commented:
"I am pleased by Barclays' confidence in our growth prospects.
Over the last 12 months we have made significant improvements to
our product including the addition of the digital wallet to our
loyalty offering, allowing all available data relevant to a single
customer to be held in a single 'digital container'. As the loyalty
market moves to meet increasing customer expectations of
personalisation we are well positioned to exploit the major growth
opportunities open to our business both in the UK, and
internationally with this innovation."
For further information, please contact:
Tim Mason, Chief Executive Officer Tel: 0844 824 3686
Lucy Sharman-Munday, Chief Financial Officer
Investec (Nominated Advisor and Broker)
Corporate Finance: David Anderson / Sebastian Tel: 020 7597 5970
Lawrence
Corporate Broking: Sara Hale
Hudson Sandler
Andrew Leach / Hattie O'Reilly Tel: 020 7796 4133
Information on Eagle Eye
www.eagleeye.com
Eagle Eye is a leading SaaS technology company that enables
businesses to create a real-time connection with their
customers.
The Company's digital marketing platform, Eagle Eye AIR, enables
the secure issuance and redemption of digital offers and rewards at
scale, across multiple channels, enabling a single customer view.
Our platform creates a network effect between merchants,
distributors and brands enabling stronger connections and value to
all parties, allowing them to reduce cost, improve their customer
offer and accelerate their innovation.
The Company's current customer base comprises leading names in
UK grocery, retail and hospitality including John Lewis, Asda, J
Sainsbury, Greggs, JD Sports, Marks & Spencer, Mitchells &
Butlers, Pizza Express, Tesco and Loblaw in Canada.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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