For immediate release
8 July 2001
STATPRO GROUP PLC
(“StatPro” or the “Group”)
StatPro Group Plc secures £3.0 million banking facility and announces intention to redeem loan notes
StatPro Group Plc (“StatPro” or “the Company”), a leading supplier of performance measurement software for the asset management industry worldwide, announces that it has obtained a secured borrowing facility of up to £3.0 million. The primary purpose of the facility will be to fund the early redemption of the Company’s outstanding £1.7 million convertible secured loan stock 2005 (“Loan Stock”). Any funds not used for this purpose will, if required, be available for working capital.
StatPro will despatch redemption notices on 18 July 2001 to all holders of Loan Stock. The redemption notices will offer holders of Loan Stock the opportunity to convert their Loan Stock into ordinary shares at a price of 80p per share on or before 3 August 2001. In the absence of conversion, the Company will redeem all the outstanding Loan Stock at par on 17 August 2001.
Warrants over 130,000 ordinary shares exercisable at 62.5p per share have been issued to the provider of the borrowing facility.
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For further information, please contact:
StatPro Group plc
|Justin Wheatley, Chief Executive||020 8410 9876|
|Andrew Fabian, Finance Director|
|Mark Edwards/Jeremy Garcia||020 7466 5000|