9 April 2019
Rosslyn Data Technologies plc
(the “Company” or “Rosslyn”)
Rosslyn Data Technologies plc (AIM: RDT), a leading global big data technology company, is pleased to announce that it has refinanced the debt it assumed as part of the Company’s acquisition of Integritie (UK) Limited in April 2017 (the “Integritie Debt”).
The new, three year, £1.5 million, secured facility is with Clydesdale Bank and is on equivalent terms, with an interest rate of 7.75% plus 3 month LIBOR. £1.0 million will be drawn down immediately and used to repay the Integritie Debt of £0.75 million, the majority of which was maturing this year. The balance is expected to be used for working capital purposes. Repayment of the £1.0 millionwill be made over 11 equal quarterly installments, starting on 28 September 2019, and with any other drawings to be repaid by 28 March 2022.
Rosslyn CEO, Roger Bullen said, “I am delighted that we have been able to replace our existing debt with a facility from Clydesdale Bank, which I believe demonstrates confidence in Rosslyn as a maturing business as it prepares for future growth. The refinancing of the Integritie Debt and conclusion of outstanding earn-out provisions now ends all financing arrangements with the vendors of Integritie. The Rosslyn business continues to perform and I look forward to releasing a trading update in May.”
|Rosslyn Data Technologies plc||Roger Bullen,Chief Executive Officer||+44(0)20 7138 3203+44(0)77 7162 3345|
|Cenkos Securities -Nominated Adviser, Broker||Stephen Keys/Giles Balleny||+44(0)20 7397 8924|
Notes to Editors
Rosslyn Data Technologies plc, (AIM: RDT) is a leading provider of a cloud-based data analytics platform. The company provides analytical services by combining four key technologies: bulk data extraction; cleansing; enrichment; and visualisation, through a single cloud platform enabling users with detailed data to make more informed decisions. Rosslyn’s RAPid platform is the Group’s primary product available to its multinational customers. Rosslyn Data Technologies plc is the ultimate holding company of the Group and owns Rosslyn Analytics Limited and Integritie (UK) Ltd.
Further information can also be found on the Company’s website at: www.rosslyndatatech.com