REG - GetBusy PLC - No exposure from Silicon Valley Bank situation

GetbusyAnnouncement

13/03/2023 07:00

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RNS Number : 7200S  GetBusy PLC  13 March 2023

13 March 2023

GetBusy plc

 

No exposure from Silicon Valley Bank situation

 

GetBusy plc ("GetBusy" or the "Group") (AIM: GETB), a leading provider of
productivity software for professional and financial services, provides an
update on the potential impact to the Group from the developing situation with
regard to Silicon Valley Bank ("SVB").

As previously announced, the £2million loan facility with SVB was cancelled
on 28 February 2023 and was replaced with a £2million facility with DJZ
Investments Pty Limited.  Following this executed change, the Group has no
exposure to SVB for any loan facilities.

Following the Joint Statement from the US Department of the Treasury, Federal
Reserve, and FDIC on 12 March, the Group has no exposure to uninsured deposits
with SVB.

The Board will continue to monitor the situation and will make further
announcements in due course if required.

 GetBusy plc

 investors@getbusy.com

 finnCap (Nominated Adviser and Broker)                                 +44 (0)20 7220 0500

 Matt Goode / Charlie Beeson / Milesh Hindocha (Corporate Finance)

 Alice Lane / Harriet Ward (ECM)

 Alma PR (Financial PR)                                              +44 (0)20 7886 2500

 Hilary Buchanan / Andy Bryant / Hannah Campbell

 

About GetBusy

GetBusy's specialist productivity software solutions enable growing businesses
to work securely and efficiently with their customers, suppliers and teams
anytime, anywhere.  Our solutions can be delivered flexibly across cloud,
mobile, hosted and on-premise platforms, whilst integrating seamlessly with a
wide variety of other class-leading core business systems.

With over 75,000 paying users and over 3 million collaborators across multiple
market sectors and jurisdictions, GetBusy is an established and fast-growing
SaaS business delivering sustained double-digit growth in high-quality
recurring subscription revenue over the long term.

Further information on the Group is available at www.getbusyplc.com

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