Banking Facilities
February 12 2009 - 1:26AM
UK Regulatory
TIDMOCZ
RNS Number : 2061N
OCZ Technology Group, Inc.
12 February 2009
12 February 2009
OCZ Technology Group, Inc.
Amended banking facilities
Further to the announcement on 9 January 2009, OCZ Technology Group, Inc. ("OCZ"
or "the Group", AIM: OCZ), a worldwide leader in innovative, ultra-high
performance and high-reliability computer components, announces an update on its
banking facilities.
OCZ previously stated that it was in discussions with its bankers regarding its
existing loan facility of $12 million. The Group has now entered into a revised
facility agreement under which the facility has returned to its previous level
of $10 million. The Group had operated the facility at this level until November
2008, when it was increased to $12 million. The revised agreement also lowers a
financial covenant threshold which better matches the Group's expected financial
performance in the next 12 months.
The Board remains confident that the revised facility allows OCZ sufficient
working capital for its medium term needs.
Enquiries:
+--+-------+-----------------------------------------+------------------------------+
| OCZ Technology Group, Inc | |
+----------------------------------------------------+------------------------------+
| | Ryan Petersen, Chief Executive Officer | +1 408 733 8400 |
+----------+-----------------------------------------+------------------------------+
| John East and Partners Limited | |
+----------------------------------------------------+------------------------------+
| | Bidhi Bhoma/Simon Clements | +44 20 7628 2200 |
+--+-------------------------------------------------+------------------------------+
| College Hill | |
+----------------------------------------------------+------------------------------+
| | Adrian Duffield/Carl Franklin | +44 20 7457 2020 |
+--+-------+-----------------------------------------+------------------------------+
Note to editors
OCZ develops, produces, and distributes high-performance computer components
including flash memory storage, memory modules, thermal management solutions and
computer power supplies, designed to make computers run faster, more reliably
and more efficiently.
With a reputation for innovation and excellence in a demanding and discerning
market, OCZ extended its market leadership when it acquired PC Power & Cooling
in May 2007, to become a global force in high-performance power supply and
cooling products. In October 2007, it acquired high performance laptop and
desktop computer systems maker Hypersonic PC to further diversify its product
offerings.
Based in the heart of Silicon Valley, OCZ employs approximately 300 staff across
offices in the USA (Sunnyvale and San Diego), Canada, Holland and its
manufacturing and logistics centre in Taiwan.
www.ocztechnology.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGUUAPPUPBUMP
Ocz Technology (LSE:OCZ)
Historical Stock Chart
From May 2024 to Jun 2024
Ocz Technology (LSE:OCZ)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about Ocz Tech Regs (London Stock Exchange): 0 recent articles
More OCZ Technology Group News Articles