Ubisense Group PLC Ubisense agrees £8 million Revolving Loan Facility (1663P)
June 04 2015 - 2:00AM
UK Regulatory
TIDMUBI
RNS Number : 1663P
Ubisense Group PLC
04 June 2015
Ubisense agrees GBP8 million Revolving Loan Facility
Cambridge, UK - Ubisense Group plc (AIM: UBI) ("Ubisense", the
"Company" or the "Group"), a leader in enterprise location
intelligence solutions, is pleased to announce that it has signed
an GBP8 million revolving loan facility with HSBC Bank plc ("HSBC")
which is committed until May 2018. This new facility replaces the
existing GBP5 million loan facility due to expire in August 2016,
of which GBP4.5 million was drawn, with interest charges unchanged
at LIBOR plus 3%. Additionally, the GBP2 million loan that the
company has with HSBC, of which GBP1.75 million is outstanding,
will be repaid from the proceeds of the recent successful fund
raising.
Robert Parker, CFO, commented: "We are very pleased to continue
to build our long term relationship with HSBC and to have completed
the refinancing of our loan facility, as it will give us future
working capital capacity to manage the business whilst we continue
to deliver our strategic objectives."
Chris Teale, Relationship Director for PLCs and Leveraged
Finance at HSBC Cambridge, said: "Ubisense's technology is
revolutionary and the Company has a strong management team with a
track record in delivering success. HSBC's great strength lies in
its international reach and it is businesses such as Ubisense that
will continue to drive the economic recovery in the UK. HSBC is
proud to be playing its part in supporting the Company."
Ends
For further information contact:
Ubisense Group plc +44 (0) 1223 535170
Richard Green, Chief Executive
Robert Parker, Chief Financial Officer
Numis Securities Limited +44 (0) 7260 1000
Simon Willis, Jamie Lillywhite (Corporate Finance)
Rupert Krefting (Corporate Broking)
Montfort Communications +44 (0) 20 3514 0897
Nick Miles +44 (0) 7973 130669
About Ubisense
Ubisense (AIM: UBI), a global leader in Enterprise Location
Intelligence solutions, helps manufacturing, communications and
utility companies improve operational efficiency and boost
profitability. Ubisense location intelligence systems bring clarity
to complexity, enabling customers to revolutionise their
operational effectiveness in a measurable way. Founded in 2002,
Ubisense is headquartered in Cambridge, England, with offices in
North America, France, Germany, Japan, Korea, Philippines and
Singapore. For more information visit: www.ubisense.net.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUGUPPQUPAGRW
Ubisense (LSE:UBI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Ubisense (LSE:UBI)
Historical Stock Chart
From Jul 2023 to Jul 2024