INVU Invu

 

TIDMINVU 
 
RNS Number : 1944B 
Invu plc 
22 October 2009 
 

 
 
 
 
22 October 2009 
 
 
Invu plc 
 
 
Loan agreement 
 
 
Invu plc (LSE, AIM: INVU) ('the Company') announces that Tyne & Wear Holdings 
Limited ('Tyne & Wear') has agreed to provide a loan to the Company of GBP0.4 
million ('the Loan'). 
 
 
The terms of the Loan are the same as the Tyne and Wear loan facility of GBP0.5 
million announced on 26 May 2009, except that the repayment date will be the 
earlier of the establishment of a new financing facility or 20 December 2009. 
The interest rate of 12.5% per annum for the Loan is calculated based on a 
margin over 3 month LIBOR . The Board announced on 15 October 2009 that it had 
agreed in principle to a new GBP1.5 million financing facility. This Loan 
represents funding to cover part of the cash requirements of the Company prior 
to the completion of negotiations for this new facility. The Company will 
provide an update on this new facility as soon as possible. 
 
 
Tyne & Wear is a substantial shareholder of the Company for the purposes of the 
AIM Rules for Companies ('AIM Rules') and, as such, is a related party of the 
Company. In addition, Tyne & Wear is ultimately wholly-owned by a discretionary 
trust, the potential beneficiaries of which include Cynthia Goldman, the mother 
of Daniel Goldman, the non-executive Chairman of the Company. Given the 
potential conflict of interest arising from this relationship, Mr. Goldman has 
not participated in the negotiation or approval by the directors of the 
Facility. 
 
 
The entering into of the Facility with Tyne & Wear is classified as a 
transaction with a related party for the purposes of the AIM Rules. In 
accordance with the AIM Rules, the directors of the Company, with the exclusion 
of Daniel Goldman, having consulted with the Company's nominated adviser, 
Arbuthnot Securities Limited, consider that the terms of the transaction are 
fair and reasonable insofar as the Company's shareholders are concerned. 
 
 
-ends- 
+-------------------------------------------------------+----------------+ 
| Invu plc                                              | 01604 859893   | 
+-------------------------------------------------------+----------------+ 
| Colin Gallick, CEO                                    |                | 
+-------------------------------------------------------+----------------+ 
| Ian Smith, CFO                                        |                | 
+-------------------------------------------------------+----------------+ 
|                                                       |                | 
+-------------------------------------------------------+----------------+ 
| Financial Dynamics                                    | 020 7831 3113  | 
+-------------------------------------------------------+----------------+ 
| Juliet Clarke / Haya Chelhot / Emma Appleton          |                | 
+-------------------------------------------------------+----------------+ 
|                                                       |                | 
+-------------------------------------------------------+----------------+ 
| Arbuthnot Securities                                  | 020 7012 2000  | 
+-------------------------------------------------------+----------------+ 
| Tom Griffiths / Ben Wells                             |                | 
+-------------------------------------------------------+----------------+ 
 
 
About Invu 
Invu [LSE, AIM, Symbol: INVU] develops, markets and sells software (under the 
brand name of Invu) for the electronic management of all types of information 
and documents, such as forms, correspondence, literature, faxes, e-mail, 
technical drawings, electronic files and web pages. Invu targets the 
small-to-medium size enterprise ('SME') market and individual departments of 
larger organisations with a range of products which the Directors believe 
strongly adhere to Invu's brand values of ease of use, high quality and price 
performance Invu's products have been sold to over 4,400 customers, representing 
approximately 87,000 licensed users. Invu has a proven reseller business model 
and has established a network of more than 40 Value Added Resellers, 8 of which 
are in Benelux. 
 
 
Invu is a Microsoft Gold Certified Partner and a member of the Business 
Application Software Developers Association (BASDA). Its version 5.4 and Series 
6 software have been accredited by the Institute of Chartered Accountants in 
England & Wales (ICAEW). 
 
 
For further information on how Invu can benefit your business, please contact us 
on +44(0)1604 859893, or email us at info@invu.net. Alternatively visit our 
website at www.invu.net. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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