OUT Outsourcery

TIDMOUT

RNS Number : 7892N

Outsourcery PLC

31 July 2014

31 July 2014

Outsourcery plc

("Outsourcery" or the "Group")

Funding Update

Outsourcery (AIM: OUT), a leading Cloud Services Provider ("CSP") that helps organisations of any size to reduce costs, increase productivity and work better, today provides an update on its progress to finalise additional funding for the Group.

As stated on 27 June, in an update issued ahead of the Group's Capital Markets Day, the Board stated its view that the Group has sufficient cash resources for its immediate needs. The Board re-iterates that view today.

The Board has been prudently reviewing a range of options that would improve the Group's cash resources and is pleased to confirm that discussions regarding a combination of debt and equity funding options as outlined in its trading update on 27 June have progressed quickly and positively in recent weeks. Final discussions and documentation regarding these options are now underway and the Board will provide a final update in short order.

* * * * *

For further information please contact

 
 Outsourcery plc                            +44 (0)330 313 0077 
  Piers Linney, Co-Chief Executive           www.outsourcery.co.uk 
  Officer 
  Simon Newton, Co-Chief Executive 
  Officer 
 Investec 
  Andrew Pinder / Patrick Robb / Dominic 
  Emery                                       +44 (0)20 7597 5100 
 
   FTI Consulting, LLP 
   Matt Dixon / Jon Snowball / Elodie 
   Castagna                                 +44 (0)20 3727 1000 
 

About Outsourcery

Organisations are increasingly considering how best to implement and use cloud services, but many still don't fully understand the cloud's potential - or how to access it effectively. Outsourcery helps organisations of any size to make sense of the cloud, working to change the ways in which they consume IT, enabling them to expand, save money and work better.

Outsourcery's services remove the need for organisations to own and manage expensive in-house, on premise IT systems, unified communications, conferencing services, video applications and IT infrastructure. Channelled through an extensive network of trusted partners, Outsourcery's end-customers range from ambitious start-ups to leading FTSE-100 companies.

Outsourcery has one of the broadest Microsoft-based cloud service offerings available today. It covers hosted software applications (software-as-a-service), virtualised servers (infrastructure-as-a-service), next generation unified communications and collaboration solutions as well as connectivity and professional services that help to customise and integrate solutions for partners and customers alike.

Outsourcery was the first company outside of the US to be named Microsoft's worldwide 'Hosting Solutions Partner of the Year' and is a Microsoft Certified Gold Partner with a total of eight competencies, of which three are gold and five are silver.

Outsourcery is a founding member of the Cloud Industry Forum, which sets standards for quality and transparency within the fast-growing cloud industry. The company also adheres to rigorous quality practices, holding ISO 27001, ISO 9001 and ISO 14001 accreditations, ensuring the highest levels of service, environmental standards and information security. Outsourcery is able to deliver 'Official' accredited solutions and is currently working in partnership with Microsoft and Dell to develop a separate secure cloud platform, giving Outsourcery the ability to deploy accredited solutions for central government, enabling the public sector to benefit from the cloud. Outsourcery employs 120 staff based in three UK offices, operates two UK data centres and was the UK's first certified carbon neutral CSP.

www.outsourcery.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

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