Netcall Regulatory News (NET)

9 November 2021

NETCALL PLC

("Netcall" or the "Company")

Partial redemption of BGF loan note

Netcall plc (AIM: NET), a leading provider of intelligent automation and customer engagement software, is pleased to announce that it has today redeemed £3.5 million of its existing £7.0 million loan note with BGF Nominees Limited (part of the BGF Group Plc) (the "Loan Note").

The Loan Note was issued by the Company to part fund the acquisition of MatsSoft Limited in August 2017. The Loan Note has an annual interest rate of 8.5 per cent. and is repayable on or before 31 March 2025. In connection with the Loan Note, BGF Investments LP were issued with options over 4,827,586 ordinary shares in the capital of Netcall, at a price of 58 pence per share (the "Options").

Under the terms of the Loan Note, Netcall are able to issue an early redemption notice at any time after the four-year anniversary of the date of the Loan Note. The interest cost resulting from the early redemption is £0.3 million and the repayment will reduce the annual interest costs of the Loan Note from £0.6 million to £0.3 million.

As a result of the partial redemption of the Loan Note, the final exercise date of the Options has changed from 30 September 2024 to 30 September 2022.

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About Netcall

Netcall's Liberty software platform with Intelligent Automation and Customer Engagement solutions helps organisations transform their businesses faster and more efficiently, empowering them to create a leaner, more customer-centric organisation.  

Netcall's customers span enterprise, healthcare and government sectors. These include two-thirds of the NHS Acute Health Trusts and leading corporates including Legal and General, Lloyds Banking Group, ITV and Nationwide Building Society.