REG - Netcall PLC - Partial redemption of BGF loan note

NetcallAnnouncement

09/11/2021 07:00

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RNS Number : 7155R  Netcall PLC  09 November 2021

 

9 November 2021

 

NETCALL PLC

 

("Netcall" or the "Company")

 

Partial redemption of BGF loan note

 

Netcall plc (AIM: NET), a leading provider of intelligent automation and
customer engagement software, is pleased to announce that it has today
redeemed £3.5 million of its existing £7.0 million loan note with BGF
Nominees Limited (part of the BGF Group Plc) (the "Loan Note").

 

The Loan Note was issued by the Company to part fund the acquisition of
MatsSoft Limited in August 2017. The Loan Note has an annual interest rate of
8.5 per cent. and is repayable on or before 31 March 2025. In connection with
the Loan Note, BGF Investments LP were issued with options over 4,827,586
ordinary shares in the capital of Netcall, at a price of 58 pence per share
(the "Options").

 

Under the terms of the Loan Note, Netcall are able to issue an early
redemption notice at any time after the four-year anniversary of the date of
the Loan Note.  The interest cost resulting from the early redemption is
£0.3 million and the repayment will reduce the annual interest costs of the
Loan Note from £0.6 million to £0.3 million.

 

As a result of the partial redemption of the Loan Note, the final exercise
date of the Options has changed from 30 September 2024 to 30 September 2022.

 

 

 

For further enquiries, please contact:

 Netcall plc                                                  Tel. +44 (0) 330 333 6100
 Henrik Bang, CEO
 Michael Jackson, Chairman
 James Ormondroyd, Group Finance Director

 Canaccord Genuity Limited (Nominated Adviser and Broker)     Tel. +44 (0) 20 7523 8000
 Simon Bridges / Andrew Potts

 Alma PR                                                      Tel. +44 (0) 20 3405 0205
 Caroline Forde / Josh Royston / Helena Bogle / Robyn Fisher

 

About Netcall

Netcall's Liberty software platform with Intelligent Automation and Customer
Engagement solutions helps organisations transform their businesses faster and
more efficiently, empowering them to create a leaner, more customer-centric
organisation.

Netcall's customers span enterprise, healthcare and government sectors. These
include two-thirds of the NHS Acute Health Trusts and leading corporates
including Legal and General, Lloyds Banking Group, ITV and Nationwide Building
Society.

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