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Eg Solutions Says Strategic Partner Emerges From Bankruptcy

Thu, 26th May 2016 13:18

LONDON (Alliance News) - Eg Solutions PLC Thursday noted its strategic partner Aspect Software Inc has completed its financial restructuring and has emerged from bankruptcy.

Eg Solutions has had a strategic partnership and re-seller agreement with Aspect dating back to February 2013, and Aspect also has a 9.5% stake in Eg Solutions and a representative on its board.

Aspect has obtained approval from the US Bankruptcy court for the District of Delaware in Wilmington for a pre-arranged agreement to reduce more than USD320 million in indebtedness, secure new financial and fresh convertible debt to facilitate its growth.

Shares in Eg Solutions were untraded Thursday. They last traded at 55.00 pence.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

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