StatPro Group PLC – Issue of Equity

For immediate release
1 June 2001


(“StatPro” or the “Group”)

StatPro strengthens financial structure with £1.74 million share placing and proposed £3.00 million banking facility

StatPro Group PLC (“StatPro” or “the Group”) announces that it has placed 2,800,000 new ordinary shares of 1p each with new and existing institutional investors at a price of 62p per share. The net proceeds of the placing, being approximately £1.69 million, will be used to fund the Group’s overseas expansion as well as to provide additional working capital.

In addition, the Group has received a formal offer of a committed banking facility of up to £3 million of which up to £1.7 million will be used to fund the early redemption of all the outstanding convertible secured loan stock 2005 in StatPro (the “Loan Stock”), whilst the balance will be used to provide further working capital. StatPro proposes to give notice of redemption to holders of the Loan Stock as soon as the facility is finalised. Any redemptions of the Loan Stock will eliminate the dilutive effect of up to 2.15 million new ordinary shares. The debt facilities are conditional on granting security and therefore redeeming or converting the remaining Loan Stock. Warrants over up to 130,000 ordinary shares will be granted to the provider of debt facilities.

The new ordinary shares of 1p each rank pari passu in all respects with the existing ordinary shares of 1p each currently in issue. Application has been made to the UK Listing Authority for the new ordinary shares to be admitted to the Official List and to the London Stock Exchange for the new Ordinary Shares to be admitted to trading. It is expected that admission will become effective and that dealings in those shares will commence on 4 June 2001.

After the issue of these new ordinary shares, the enlarged issued ordinary share capital will be 32,223,986.

Justin Wheatley commented: “The placing and the debt facilities provides the group with a stronger balance sheet to grow the business further. I am delighted with the investor interest in the Placing, which was oversubscribed, and I am pleased to welcome new institutional investors to StatPro.”

Andrew Fabian added: “Our ability to raise debt finance demonstrates the strength of the business model of recurring revenues and good quality debtor book.”


StatPro Group plc

Justin Wheatley, Chief Executive 020 8410 9876
Andrew Fabian, Finance Director

Buchanan Communications

Mark Edwards/Bobby Swanson 020 7466 5000

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