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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Invu | LSE:INVU | London | Ordinary Share | GB00B28Y2K12 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.35 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMINVU RNS Number : 1944B Invu plc 22 October 2009 22 October 2009 Invu plc Loan agreement Invu plc (LSE, AIM: INVU) ('the Company') announces that Tyne & Wear Holdings Limited ('Tyne & Wear') has agreed to provide a loan to the Company of GBP0.4 million ('the Loan'). The terms of the Loan are the same as the Tyne and Wear loan facility of GBP0.5 million announced on 26 May 2009, except that the repayment date will be the earlier of the establishment of a new financing facility or 20 December 2009. The interest rate of 12.5% per annum for the Loan is calculated based on a margin over 3 month LIBOR . The Board announced on 15 October 2009 that it had agreed in principle to a new GBP1.5 million financing facility. This Loan represents funding to cover part of the cash requirements of the Company prior to the completion of negotiations for this new facility. The Company will provide an update on this new facility as soon as possible. Tyne & Wear is a substantial shareholder of the Company for the purposes of the AIM Rules for Companies ('AIM Rules') and, as such, is a related party of the Company. In addition, Tyne & Wear is ultimately wholly-owned by a discretionary trust, the potential beneficiaries of which include Cynthia Goldman, the mother of Daniel Goldman, the non-executive Chairman of the Company. Given the potential conflict of interest arising from this relationship, Mr. Goldman has not participated in the negotiation or approval by the directors of the Facility. The entering into of the Facility with Tyne & Wear is classified as a transaction with a related party for the purposes of the AIM Rules. In accordance with the AIM Rules, the directors of the Company, with the exclusion of Daniel Goldman, having consulted with the Company's nominated adviser, Arbuthnot Securities Limited, consider that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned. -ends- +-------------------------------------------------------+----------------+ | Invu plc | 01604 859893 | +-------------------------------------------------------+----------------+ | Colin Gallick, CEO | | +-------------------------------------------------------+----------------+ | Ian Smith, CFO | | +-------------------------------------------------------+----------------+ | | | +-------------------------------------------------------+----------------+ | Financial Dynamics | 020 7831 3113 | +-------------------------------------------------------+----------------+ | Juliet Clarke / Haya Chelhot / Emma Appleton | | +-------------------------------------------------------+----------------+ | | | +-------------------------------------------------------+----------------+ | Arbuthnot Securities | 020 7012 2000 | +-------------------------------------------------------+----------------+ | Tom Griffiths / Ben Wells | | +-------------------------------------------------------+----------------+ About Invu Invu [LSE, AIM, Symbol: INVU] develops, markets and sells software (under the brand name of Invu) for the electronic management of all types of information and documents, such as forms, correspondence, literature, faxes, e-mail, technical drawings, electronic files and web pages. Invu targets the small-to-medium size enterprise ('SME') market and individual departments of larger organisations with a range of products which the Directors believe strongly adhere to Invu's brand values of ease of use, high quality and price performance Invu's products have been sold to over 4,400 customers, representing approximately 87,000 licensed users. Invu has a proven reseller business model and has established a network of more than 40 Value Added Resellers, 8 of which are in Benelux. Invu is a Microsoft Gold Certified Partner and a member of the Business Application Software Developers Association (BASDA). Its version 5.4 and Series 6 software have been accredited by the Institute of Chartered Accountants in England & Wales (ICAEW). For further information on how Invu can benefit your business, please contact us on +44(0)1604 859893, or email us at info@invu.net. Alternatively visit our website at www.invu.net. This information is provided by RNS The company news service from the London Stock Exchange END AGRCKDKKOBDDOKB
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