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26 May 2016 14:11
Date: | 26th May 2016 |
On behalf of: | eg solutions plc ("eg", the "Company", "the Group") |
eg solutions plc
Re Aspect Software Inc.
eg solutions plc (AIM: EGS), the back office optimisation software company, notes today's announcement by Aspect Software Inc. ("Aspect") that Aspect has completed its financial restructuring and that it has emerged from Chapter 11 after successfully obtaining approval from the U.S. Bankruptcy court for the District of Delaware in Wilmington (along with four related entities).
Aspect's pre-arranged agreement approved by the court results in the reduction of more than $320 million of indebtedness, new secured financing and fresh convertible debt capital to facilitate growth. This has deleveraged its balance sheet and reduced long term debt by 40%. Aspect has continued to pay its general unsecured creditors in the ordinary course during these proceedings and any pre-petition balances accounted for in its records will be paid in full in cash.
eg has an existing strategic partnership and re-seller agreement with Aspect dating back to February 2013. Aspect also owns a 9.5% equity interest in eg and has a representative on the eg board.
CONTACTS
eg solutions plc | +44 (0) 1785 715772 |
Elizabeth Gooch, Chief Executive Officer | www.egsplc.com |
Redleaf PR | +44 (0)207 382 4730 |
Rebecca Sanders-Hewett David Ison Susie Hudson | egsolutions@redleafpr.com |
finnCap | + 44(0) 207 220 0500 |
Julian Blunt or Emily Watts (corporate finance) Tony Quirke (corporate broking) |
About eg solutions plc
eg solutions is a back office workforce optimisation software Group. eg pioneered this new market space and developed the most complete, purpose built workforce optimisation software for back offices - the only solution that manages work, people and end-to-end processes wherever they are undertaken, anywhere in the world.
Our software is now used by leading UK, international and global companies in multiple industry sectors including financial services, healthcare and utilities.
Using our forecasting, scheduling, real-time work management and operational analytics capabilities, we deliver measureable improvements in service, quality, productivity and regulatory compliance. When supported by our implementation and training services we guarantee return on investment in short timescales.
Regardless of who is serving the customer - call centre, back offices, branches or the field - our solutions provide true insight into the full customer service process and promote world-class operational management capability.
The Group is listed on AIM, the London Stock Exchange's international market for smaller growing companies (EGS).
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