12 Feb 2019 07:00
IDE Group Holdings Plc
("IDE" or the "Company")
Result of Open Offer to Subscribe for Loan Notes
Further to the announcements of 10 January 2019 and 24 January 2019, IDE, the mid-market network, cloud and IT Managed Services provider, is pleased to announce the result of the open offer to subscribe for up to £4.7 million loan notes (the "Second Tranche LNs"). Valid acceptances in respect of £1 million Second Tranche LNs have been received. Under the terms of the Underwriting Agreement, MXC will subscribe for the remaining £3.7 million Second Tranche LNs. The proceeds of the Second Tranche LNs will be used to repay IDE's remaining debt facilities with Natwest and to provide additional working capital for the Company.
Where undefined, all capitalised terms in this announcement will have the same meaning as defined in the announcement published on 10 January 2019.
IDE Group Holdings Plc Andy Parker, Executive Chairman
| Tel: +44 (0)344 874 1000 |
finnCap Limited Nominated Adviser and Broker Corporate finance: Jonny Franklin-Adams/ Scott Mathieson/ Hannah Boros ECM: Tim Redfern/ Richard Chambers
| Tel: +44 (0)20 7220 0500 |
MXC Capital Markets LLP Financial Adviser Charlotte Stranner | Tel: +44 (0)20 7965 8149 |