20 Sep 2010 07:00
20 September 2010
Eckoh plc
("Eckoh" or the "Company")
Payment of outstanding loan by Redstone
Eckoh plc, the UK's leading developer of speech recognition solutions for customer contact centres, announces that it has received all the monies owed from the outstanding loan to Redstone plc ("Redstone") as per the agreement announced on 24 August 2010.
Following the sale of the outstanding 60 million shares on Friday 17 September 2010, the Company confirms that it is now in receipt of the following:
·; The settlement fee of GBP 0.5 million
·; GBP 1.0 million (before expenses) from the sale of the entire 200,000,000 Redstone shares issued to Eckoh as part of the settlement agreement
The Company no longer has an interest in Redstone and, as such, the conditions of the outstanding loan owed by Redstone to Eckoh have been satisfied.
Enquiries:
| Eckoh plc |
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| Nik Philpot, Chief Executive Officer |
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| Adam Moloney, Group Finance Director |
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| www.eckoh.com | Tel: 01442 458 300 |
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| Corfin Public Relations |
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| Harry Chathli, Claire Norbury | Tel: 020 7596 2860 |
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| Seymour Pierce |
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| Jonathan Wright, Jeremy Porter (Nominated Adviser) | Tel: 020 7107 8000 |
| Jacqui Briscoe (Corporate Broking) |
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