REG - Eagle Eye Sol Gp PLC - Update regarding Silicon Valley Bank

Eagle Eye SolutionsAnnouncement

13/03/2023 07:00

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RNS Number : 7206S  Eagle Eye Solutions Group PLC  13 March 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"). UPON PUBLICATION OF THIS
ANNOUNCEMENT THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC.

 

13 March 2023

 

Eagle Eye Solutions Group plc

("Eagle Eye", the "Group", or the "Company")

 

Update regarding Silicon Valley Bank

 

Eagle Eye (LSE: "EYE"), a leading SaaS technology company that creates digital
connections enabling personalised, real-time marketing, today provides an
update in relation to Silicon Valley Bank UK ("SVBUK").

 

The Company has a £5.0m loan facility with SVBUK, against which it has drawn
down £2.0m and at 10 March 2023 had total cash of c. £7.8m*. The Company
currently has no requirements to draw down further on its facility and awaits
further information as to the status of its facility.

The Group has no cash deposits with SVBUK. While some funds were deposited
with Silicon Valley Bank US, the Board anticipates there will be no impact
upon the Group from this, following the Joint Statement by the Department of
the Treasury, Federal Reserve, and FDIC that all deposits will be protected
and available from today.

 

The person responsible for the release of this announcement on behalf of the
Company for the purposes of MAR is Lucy Sharman-Munday.

* Total cash includes approximately £1.6m of cash within the recently
acquired Untie Nots business.

Enquiries:

 Eagle Eye Solutions Group plc                                        Tel: 0844 824 3686
 Tim Mason, Chief Executive Officer
 Lucy Sharman-Munday, Chief Financial Officer

 Investec Bank plc (Nominated Adviser & Joint Broker)                 Tel: +44 20 7597 5970
 Corporate Broking & PLC Advisory: David Anderson, Nick Prowting

 Shore Capital (Joint Broker)                                         Tel: +44 20 7408 4090
 Corporate Advisory: Daniel Bush, David Coaten, Lucy Bowden
 Corporate Broking: Henry Willcocks

 Alma PR (Financial PR)                                               Tel: +44 20 3405 0205
 Caroline Forde, Hannah Campbell

 

 

About Eagle Eye

Eagle Eye is a leading SaaS technology company transforming marketing by
creating digital connections that enable personalised performance marketing in
real time through coupons, loyalty, apps, subscriptions and gift services.

 

Eagle Eye AIR enables the secure issuance and redemption of digital offers and
rewards at scale, across multiple channels, enabling a single customer view.
The Group creates a network between merchants, brands and audiences to enable
customer acquisition, interaction and retention at lower cost whilst driving
marketing innovation.

 

The Company's current customer base comprises leading names in UK Grocery,
Retail, Leisure and Food & Beverage sectors, including Asda, Sainsbury's,
Tesco, Waitrose and John Lewis & Partners, Virgin Red, JD Sports, Pret A
Manger, Greggs, Mitchells & Butlers, PizzaExpress; in North America,
Loblaws, Shoppers Drug Mart, Southeastern Grocers and Staples US Retail and in
Australia & New Zealand, Woolworths Group and The Warehouse Group. In
January 2023, the Group acquired France based Untie Nots, a personalised
promotions business, adding Carrefour, E. Leclerc, Auchan and other leading
brands to its European customer base.

 

Web - www.eagleeye.com (http://www.eagleeye.com/)

 

 

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