Issue of Loan Notes
March 18 2010 - 3:00AM
UK Regulatory
TIDMNXS
18 March 2010
NEXUS MANAGEMENT PLC
(AIM: NXS)
("Nexus" or the "Company")
Issue of Loan Notes to raise GBP375,000
The Board of Nexus Management Plc, the AIM quoted provider of specialist IT
Managed Services, is pleased to announce that it has raised GBP375,000, before
expenses, through the issue of convertible loan notes ("Loan Notes") to the SF
t1PS Smaller Companies Growth Fund.
The Loan Notes are subject to an interest rate of 10 per cent. per annum,
payable quarterly in arrears, and are convertible on the fifth anniversary of
their issue, at a price of 0.4p per share. The Loan Notes can be converted or
redeemed at any point following the third anniversary of their issue, however,
in the event the Loan Notes are redeemed they are subject to an early
redemption penalty fee of one year's interest.
The proceeds of the issue, as well as providing further working capital for the
Company, will be applied to reduce the level of indebtedness in the Resilience
business and to redeem certain debts which carry a higher rate of interest than
the Loan Notes. Additionally, funds raised will support the marketing of Nerd
Force in the UK and US and the development efforts in Resilience.
Enquiries:
Nexus Management Plc Tel: +44 (0)1862 812 107
Roger Richardson, Chief Executive
www.nexusmgmt.com
Merchant John East Securities Limited (Nomad) Tel: +44 (0)20 7628 2200
Simon Clements/David Worlidge
Bishopsgate Communications Ltd Tel: +44 (0)20 7562 3350
Robyn Samuelson/Siobhra Murphy
nexus@bishopsgatecommunications.com
2
END
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