Intercede Regulatory News (IGP)

1 Jun 2009 07:00



1 JUNE 2009

Intercede Group plc

("Intercede" or the "Company")

Conversion of Loan Notes

Intercede Group plc is pleased to announce that it has received notification from the remaining holders of the convertible loan notes issued by the Company on 31 March 2000 and 6 December 2001 ("the Loan Notes") that they have elected to convert the Loan Notes (together with associated interest for the period to 31 May 2009) into ordinary shares of 1p each in the Company. In order to effect the conversion, the Company has issued 3,877,166 new ordinary shares at a price of 15.0p per share and 6,897,083 new ordinary shares at a price of 20.0p per Ordinary Share (together "New Shares"). Following such conversion, the total issued share capital of the Company will be 48,178,005 ordinary shares of 1p each.

Application will be made to the London Stock Exchange for the New Shares to be admitted to trading on AIM. The New Shares will rank pari passu in all respects with the existing Ordinary Shares in issue and it is expected that trading will commence in the New Shares on 5 June 2009. 

Richard Parris, Chairman and Chief Executive of Intercede, commented:

"We are delighted with the confidence shown in Intercede by the convertible loan note holders in converting all of the Loan Notes into equity. The conversion significantly strengthens the Company's balance sheet and leaves Intercede with a substantial cash balance as it continues to enjoy commercial success. This success, especially in the last year, provides grounds for all shareholders to be optimistic."

Intercede will issue its Preliminary Results for the year ended 31 March 2009 by mid June 2009.

ENQUIRIES

About Intercede

Intercede is the producer of the MyID® Identity and Credential Management System (IDCMS). Intercede's MyID is the only IDCMS software product that enables organizations to easily and securely manage the identities of people and their associated identity credentials within a single, integrated, workflow driven platform. This includes enabling and managing: secure registration, biometric capture, application vetting and approval through to smart card personalization, issuance and management.

Intercede's MyID is being used around the world by large corporations, governments and banks to manage millions of identities for employees, citizens and customers. Notable deployments in the US include 10 Federal Agencies, a programme with Lockheed Martin and two major US financial institutions. In Europe and the Middle East, Intercede's MyID is being deployed in support of government identity, health and corporate employee ID security projects.

Intercede and MyID are registered trademarks or trademarks in the UK, US and/or other countries. For more information visit http://www.intercede.com