24 Dec 2009 07:01
24 December 2009
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 reached an agreement to extend 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 2011. 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. We are delighted to be extending the facility for an additional two years."
Enquiries:
| Barry Mence, Chairman Arif Karimjee, CFO | Sopheon plc | Tel : + 44 (0) 1483 685 735 |
| Justine James | Hansard Communications | Tel : + 44 (0) 207 245 1100 |
| Sarah Jacobs | Seymour Pierce Corporate Finance | Tel: + 44 (0) 20 7107 8000 |
| Floor van Maaren | 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 BASF, Cadbury, Corning, Electrolux, General Motors, Honeywell, Motorola 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
GEM was founded in 1991. The firm is a US$2.7 billion alternative investments group that has completed more than 270 transactions in over 50 countries. GEM manages a diverse set of investment vehicles across the world, with offices in Paris, London, Hong Kong and New York. For more information, please visit www.gemny.com.