Company refinancing

18 Dec 2007 14:13

Billing Services Group Limited18 December 2007 BILLING SERVICES GROUP LIMITED ("BSG") Company Refinancing and Transaction Update BSG, one of the telecommunications industry's leading clearing and settlement, payment and financial risk management solutions groups, is pleased to announce the successful refinancing of its continuing wireline business. The refinancing, in the form of a USD112.5 million loan, will become effective on 19 December 2007 on the completion of the disposal of the wireless business ("the Disposal") as previously announced. Following completion of the Disposal and refinancing, BSG is pleased to confirm a one-time cash payment of 20 pence per common share (or per depositary interest in the case of uncertificated common shares) to shareholders on the company's share register at close of business on 19 December 2007 to be effected by means of the capital reduction which was approved by shareholders on 23 April 2007. On 21 December 2007, payment will be made by way of cheque to holders of common shares in certificated form. Holders of depositary interests (i.e. uncertificated common shares held in CREST) will receive payment through their CREST accounts. BSG reserves the right to make payment to holders of depositary interests by way of cheque, if, for any reason, it wishes to do so. Commenting on developments, Randall Brouckman, Chief Executive Officer of BSG, said: "This marks a watershed in realising the true investment potential of BSG as we continue to seek ways to further enhance shareholder value." If shareholders have any questions as to payment they should contact Capita Registrars on 087 0162 3121, if calling from within the United Kingdom, or, if calling from outside the United Kingdom, +44 20 8639 2157. 18 December 2007 Enquiries: Evolution Securities Limited +44 (0) 20 7071 4300Stuart AndrewsFergus Marcroft The Hogarth Partnership +44 (0) 20 7645 3988Julian Walker This information is provided by RNS The company news service from the London Stock Exchange