EPE Special Opportunities invests GBP2.6 million in Rayware via notes

EPE Special Opportunities Ltd - Bermuda-based investment company - Says its undertaking ESO Investments 1 Ltd, of which it is the sole investor, has invested GBP2.6 million in Hamsard 3634 Ltd, the holding company for the group trading as The Rayware Group. This was via a subscription to Rayware shareholder loan notes. This is alongside ESO 1 also providing GBP2.5 million of funding by way of a contingent guarantee to Rayware's third party lenders. Following the investment, EPE Special Investments now has GBP24.0 million in available cash and says this has "no material impact" on its net asset value. Says the investment used by Rayware to reduce the business' indebtedness.

Current stock price: untraded at 156.00 pence, last traded July 7.

12-month change: down 8.2%

By Greg Rosenvinge, Alliance News reporter

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