The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSPE.L Regulatory News (SPE)

  • There is currently no data for SPE

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Extension of GEM Equity Line

23 Dec 2011 12:32

RNS Number : 6141U
Sopheon PLC
23 December 2011
 



23 December 2011

 

SOPHEON PLC

 

("Sopheon" or the "Company")

 

EXTENSION OF GEM EQUITY LINE

 

Sopheon plc, the international provider of software and services that improve the financial return from innovation and product development investments, announces that it has extended the Company's equity line of credit facility with GEM Global Yield Fund Limited ("GEM") for a further two year period up to 23 December 2013. This is the fourth such extension, and the terms of the facility are otherwise unchanged.

 

Sopheon retains full control of the amount and timing of any subscription under the Equity Line and will be under no obligation to use the facility at any point. Since inception, the facility has been used to raise working capital on one occasion in March 2004, leaving approximately 90% of the original €10m facility available under the extended agreement. 

 

Sopheon Chairman Barry Mence said:

"We have a long standing relationship with GEM, and the equity line is an important component of Sopheon's financing structure. At the end of November we had cash balances of £2.2 million; while we have no immediate intention of using the facility, however we are delighted to be extending for an additional two years."

 

Enquiries:

 

Barry Mence, Chairman

Sopheon plc

Tel : + 44 (0) 1483 685 735

Arif Karimjee, CFO

Sopheon plc

Tel : + 44 (0) 1483 685 735

Charles Cunningham/ Charlotte Stranner/ Joanna Weaving

finnCap

Tel: +44 (0) 20 7600 1658

Nicholas Nelson / Guy McDougall

Hansard (Financial PR)

Tel : + 44 (0) 20 7245 1100

Claire Verhagen

Citigate First Financial

Tel : + 31 (0) 205 754 010

 

About Sopheon

Sopheon (LSE: SPE) is an international provider of software and services that help organisations improve the business impact of product innovation. Sopheon's solutions automate and govern the innovation process, enabling companies to increase revenue and profits from new products. Sopheon's solutions are used by industry leaders throughout the world, including BAE Systems, BASF, Corning, Electrolux, Honeywell, Novartis and SABMiller. Sopheon is listed on the AIM Market of the London Stock Exchange and on the Euronext in the Netherlands. For more information, please visit www.sopheon.com. 

 

About GEM

Global Emerging Markets Limited was founded in 1991. GEM is a $3.4b investment group having completed 305 transactions in 65 countries. The firm is an alternative investment group that manages a diverse set of investment vehicles across the world. GEM's funds include: CITIC/GEM Fund; VC Bank/GEM Mena Fund*; Kinderhook; GEM Global Yield Fund; GEM India Advisors, BLOM GEM Opportunities Fund and GEM Brazil PE Fund (*GEM exited both its LP and GP stakes in Q1 2010). For more information, please visit www.gemny.com.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCEAAADADFFFFF
Date   Source Headline
27th Jan 20117:00 amPRNTrading Statement
9th Dec 20107:00 amPRNAmendment to the Terms of Convertible Loan Stock
16th Nov 20107:00 amPRNContract Win
4th Nov 20107:00 amPRNInterim Management Statement
27th Aug 201010:30 amPRNGrant of Options
26th Aug 20107:00 amPRNHalf-yearly Report
22nd Jul 20107:00 amRNSTrading Update
15th Jun 20105:31 pmPRNResult of AGM
15th Jun 20107:00 amPRNAGM Statement
18th May 20107:00 amRNSAfton Chemical Selects Idea Lab
6th May 20107:00 amPRNInterim Management Statement
25th Mar 20107:00 amPRNFinal Results
22nd Mar 20107:00 amRNSiSUSTAINT Alliance Launched
3rd Feb 20107:00 amRNSSopheon Team wins TARDEC Contract
28th Jan 20107:00 amPRNTrading Update
24th Dec 20097:01 amRNSExtension of GEM Equity Line
2nd Dec 20097:00 amRNSVision Strategist Version 5.0 Launched
3rd Nov 20097:00 amPRNInterim Management Statement
2nd Oct 20093:43 pmPRNISSUE OF CONVERTIBLE LOAN STOCK
27th Aug 20097:00 amPRNHalf-yearly Report
16th Jun 200912:34 pmPRNResult of AGM
16th Jun 20097:00 amPRNAGM Statement
19th May 20097:00 amPRNProduct Launch
7th May 20097:00 amPRNInterim Management Statement
26th Mar 20097:00 amPRNFinal Results
18th Mar 20097:00 amRNSBostik Implements Sopheon's Accolade System
11th Mar 20097:00 amRNSContract Win
11th Feb 20097:00 amRNSEnhanced Version of Accolade? Launched
28th Jan 20097:00 amPRNTrading Update
21st Jan 20097:00 amRNSSopheon Partners with Maxsoft
4th Nov 20087:00 amPRNInterim Management Statement
28th Aug 20087:00 amPRNHalf-yearly Report
27th Jun 20083:47 pmPRNDirector/PDMR Shareholding
25th Jun 20087:00 amPRNGrowth Milestone
10th Jun 20087:00 amPRNAGM Statement
16th May 20087:00 amPRNDirector/PDMR Shareholding
15th May 20087:00 amPRNInterim Management Statement
6th May 200810:00 amPRNNotice of AGM
29th Apr 20087:02 amRNSContract Win
1st Apr 200810:00 amPRNGrant of Options
27th Mar 20087:00 amPRNFinal Results
6th Feb 20087:01 amRNSProduct Development
25th Jan 20087:00 amPRNTrading Update
21st Dec 200710:30 amPRNTrading Update
25th Oct 20077:00 amPRNTrading Update
16th Oct 20072:38 pmBUSBeiersdorf Implements Sopheon System in Support of Product Innovation Strategy
16th Oct 20077:01 amRNSContract Win
10th Oct 20072:45 pmBUSLeading European Center for Clinical Trials Research Selects Sopheon's Accolade(R) System
10th Oct 20077:01 amRNSContract Win
1st Oct 20077:02 amRNSContract Win

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.