Rosslyn Data Technologies PLC Loan Refinancing (5006V)
April 09 2019 - 1:00AM
UK Regulatory
TIDMRDT
RNS Number : 5006V
Rosslyn Data Technologies PLC
09 April 2019
9 April 2019
Rosslyn Data Technologies plc
(the "Company" or "Rosslyn")
Loan Refinancing
Rosslyn Data Technologies plc (AIM: RDT), a leading global big
data technology company, is pleased to announce that it has
refinanced the debt it assumed as part of the Company's acquisition
of Integritie (UK) Limited in April 2017 (the "Integritie
Debt").
The new, three year, GBP1.5 million, secured facility is with
Clydesdale Bank and is on equivalent terms, with an interest rate
of 7.75% plus 3 month LIBOR. GBP1.0 million will be drawn down
immediately and used to repay the Integritie Debt of GBP0.75
million, the majority of which was maturing this year. The balance
is expected to be used for working capital purposes. Repayment of
the GBP1.0 million will be made over 11 equal quarterly
installments, starting on 28 September 2019, and with any other
drawings to be repaid by 28 March 2022.
Rosslyn CEO, Roger Bullen said, "I am delighted that we have
been able to replace our existing debt with a facility from
Clydesdale Bank, which I believe demonstrates confidence in Rosslyn
as a maturing business as it prepares for future growth. The
refinancing of the Integritie Debt and conclusion of outstanding
earn-out provisions now ends all financing arrangements with the
vendors of Integritie. The Rosslyn business continues to perform
and I look forward to releasing a trading update in May."
+44(0)20 7138
3203
Rosslyn Data Technologies Roger Bullen, +44(0)77 7162
plc Chief Executive Officer 3345
Cenkos Securities
-
Nominated Adviser, +44(0)20 7397
Broker Stephen Keys/Giles Balleny 8924
Notes to Editors
Rosslyn Data Technologies plc, (AIM: RDT) is a leading provider
of a cloud-based data analytics platform. The company provides
analytical services by combining four key technologies: bulk data
extraction; cleansing; enrichment; and visualisation, through a
single cloud platform enabling users with detailed data to make
more informed decisions. Rosslyn's RAPid platform is the Group's
primary product available to its multinational customers. Rosslyn
Data Technologies plc is the ultimate holding company of the Group
and owns Rosslyn Analytics Limited and Integritie (UK) Ltd.
Further information can also be found on the Company's website
at: www.rosslyndatatech.com
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END
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