IDE Group Holdings Plc

("IDE" or the "Company")

Result of Open Offer to Subscribe for Loan Notes

Further to the announcements of 10 January 2019 and 24 January 2019, IDE, the mid-market network, cloud and IT Managed Services provider, is pleased to announce the result of the open offer to subscribe for up to £4.7 million loan notes (the "Second Tranche LNs"). Valid acceptances in respect of £1 million Second Tranche LNs have been received. Under the terms of the Underwriting Agreement, MXC will subscribe for the remaining £3.7 million Second Tranche LNs. The proceeds of the Second Tranche LNs will be used to repay IDE's remaining debt facilities with Natwest and to provide additional working capital for the Company.

Where undefined, all capitalised terms in this announcement will have the same meaning as defined in the announcement published on 10 January 2019.

IDE Group Holdings Plc

Tel: +44 (0)344 874 1000

Andy Parker, Executive Chairman

finnCap Limited

Tel: +44 (0)20 7220 0500

Nominated Adviser and Broker

Corporate finance: Jonny Franklin-Adams/ Scott Mathieson/ Hannah Boros

ECM: Tim Redfern/ Richard Chambers

MXC Capital Markets LLP

Tel: +44 (0)20 7965 8149

Financial Adviser

Charlotte Stranner

Attachments

  • Original document
  • Permalink

Disclaimer

IDE Group Holdings plc published this content on 18 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 December 2019 17:05:01 UTC