TIDMPOS 
 
RNS Number : 2012M 
Plexus Holdings Plc 
26 January 2009 
 

Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services 
26 January 2009 
 
 
Plexus Holdings PLC ('Plexus' or 'the Company') 
Renewal, Increase, and Extension of Bank Facilities 
 
Plexus Holdings PLC, the AIM listed oil and gas engineering services business, 
is pleased to announce that it has secured a 25% increase in its banking 
facilities after completing annual renewal negotiations with the Bank of 
Scotland Corporate ('BoSC'). Plexus now has a GBP4 million credit facility on a 
three year revolving basis with an additional GBP1 million overdraft facility 
agreed on a yearly term. 
 
 
The Directors believe this increased facility together with cashflow generated 
from trading will enable Plexus to deliver on its short to medium term plans 
focussed on boosting revenues through further substantial investment in its 
proprietary POS-GRIP  wellhead rental inventory, R&D, infrastructure and 
personnel at its Aberdeen facilities. 
 
 
Plexus' CEO Ben van Bilderbeek said, "We are delighted that we have been able to 
secure a 25% increase in our banking facilities with BoSC under such excellent 
terms, especially given current challenging debt market conditions. 
 
 
 "We believe that the successful conclusion of these negotiations underlines the 
strength of Plexus' business model and the significant ongoing potential for 
POS-GRIP technology within the oil and gas wellhead market as well as other key 
product areas, which can benefit from our superior method of engineering. With 
this in mind, we look forward to the future with confidence and delivering 
interim results in March, in line with market expectations, at a time when we 
see the weakening of Sterling as a potential boost for our growing non UK 
activities." 
 
 
The terms of the facility are 2% over LIBOR for the three year revolving credit 
facility and 3% over BoSC base rate for the overdraft. The Directors consider 
the covenants attaching to these arrangements to be in line with typical 
covenants for such facilities and are satisfied that the Company is comfortably 
operating within the levels prescribed. 
 
 
Plexus would like to acknowledge and thank BoSC for its ongoing and increased 
level of support, and is pleased that it has been able to continue and build on 
this longstanding banking relationship. 
 
 
Douglas Bodie, Director, Bank of Scotland Corporate Aberdeen said, "We are 
delighted to be helping Plexus with its expansion plans, and congratulate the 
Plexus team on continuing to secure new contracts with the oil and gas majors. 
The recent contract win from Shell Brunei is impressive and a good example of 
technology, driven from Aberdeen, being accepted on a worldwide basis." 
 
 
* * ENDS * * 
 
 
For further information please visit www.posgrip.com or contact: 
+-------------------+-----------------------------+------------------------+ 
| Ben van           | Plexus Holdings PLC         | Tel: 020 7589 8555     | 
| Bilderbeek        |                             |                        | 
+-------------------+-----------------------------+------------------------+ 
| Graham Stevens    | Plexus Holdings PLC         | Tel: 020 7589 8555     | 
+-------------------+-----------------------------+------------------------+ 
| Alex Dewar        | Brewin Dolphin              | Tel: 0845 213 2076     | 
+-------------------+-----------------------------+------------------------+ 
| Felicity Edwards  | St Brides Media & Finance   | Tel: 020 7236 1177     | 
|                   | Ltd                         |                        | 
+-------------------+-----------------------------+------------------------+ 
| Isabel Crossley   | St Brides Media & Finance   | Tel: 020 7236 1177     | 
|                   | Ltd                         |                        | 
+-------------------+-----------------------------+------------------------+ 
 
 
Notes 
Plexus Holdings PLC 
Plexus, which began trading on AIM in December 2005, is an established oil and 
gas engineering, and services business based in Aberdeen, with offices in 
London, Kuala Lumpur, and a presence in Houston. It has developed a patented a 
method of engineering for oil and gas field wellheads and connectors, POS-GRIP, 
which involves elastically deforming one tubular member against another to 
effect gripping and sealing. 
POS-GRIP wellhead systems have been used in over 130 oil and gas wells by 
international companies including BHP Billiton, BG International, BP, Shell, 
Brunei Shell Petroleum (BSP), Centrica, ConocoPhillips, Gaz de France, Global 
Santa Fe, Maersk, Petro-Canada , RWE, Repsol, StatoilHydro, Silverstone Energy, 
Talisman Energy, Tullow Oil, and Wintershall. 
The Company plans to accelerate the roll out of POS-GRIP technology as a 
superior alternative to current wellhead technology. It has particular 
advantages in HP/HT and X-HP/HT oil and gas environments for which there is 
increasing demand throughout the world. The Company's long-term goal is to 
develop POS-GRIP technology as the new standard for all wellhead systems. This 
objective includes the distribution of POS-GRIP technology through licensees to 
maximise market penetration. 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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