SCISYS PLC Loan Note Programme (4772R)
December 09 2016 - 7:05AM
UK Regulatory
TIDMSSY
RNS Number : 4772R
SCISYS PLC
09 December 2016
The information communicated in this announcement includes
inside information for the purposes of Article 7 of Regulation
596/2014
SCISYS PLC
(SSY: AIM)
Loan Note Programme: successful first issue - Related Party
Transaction
SCISYS PLC ("SCISYS"; AIM SSY), the supplier of bespoke software
systems, IT based solutions and support services to the media,
broadcast, space, government, defence and commercial sectors,
announced on 24 November 2016 the conditional acquisition of ANNOVA
Systems GmbH.
The announcement indicated that a new loan note programme for
interest bearing, second-ranking, non-convertible loan notes ("Loan
Notes") of up to GBP5m was being established with Lesmoir-Gordon,
Boyle & Co Limited, as part of the acquisition funding
structure.
SCISYS is pleased to announce that the loan note programme was
formally established on 29 November and that the first tranche of
Loan Notes for EUR0.6m and GBP1.0m was successfully placed and
issued on 9 December for a term of three years and at a coupon of 7
per cent.
Mike Love, Chairman of SCISYS, participated in the first issue
of Loan Notes in the amount of GBP0.5m, which represents a related
party transaction under the AIM Rules. The Board of SCISYS
(excluding Mike Love) considers, having consulted with the
Company's nominated adviser, finnCap Ltd, that Mike Love's
participation in the Loan Notes is fair and reasonable insofar as
the Company's shareholders are concerned.
For further information please contact:
+44 (0)1249 466
SCISYS PLC 466
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Mike Love Chairman
------------------ ------------------- ---------------------------
Klaus Heidrich Chief Executive
Officer
------------------ ------------------- ---------------------------
Chris Cheetham Finance Director
------------------ ------------------- ---------------------------
finnCap (NOMAD
& Broker) +44 (0)20 7220 0500
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Julian Blunt Corporate Finance
------------------ ------------------- ---------------------------
Mia Gardner Corporate Broking
------------------ ------------------- ---------------------------
WalbrookPR +44 (0) 20 7933
Tom Cooper/Paul 8780
Vann +44 (0)797 122 1972
tom.cooper@walbrookpr.com
--------------------------------------- ---------------------------
About SCISYS:
Employing nearly 450 staff, SCISYS group is a leading developer
of Information and Communications Technology services, e-Business,
web and mobile applications and advanced technology solutions. The
Company operates in a broad spectrum of market sectors including
Media & Broadcast, Space, Government and Defence and Commercial
sectors. SCISYS clients are predominantly blue chip and public
sector organisations. Customers include the Environment Agency, the
Ministry of Defence, Airbus Defence & Space, Arqiva, Vodafone,
the European Space Agency, Eumetsat, the BBC, RNLI, AON, Interflora
and the National Trust. The Company has UK offices in Chippenham,
Bristol, Leicester and Reading and two offices located in Germany.
More information is available at www.scisys.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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