Ubisense Group PLC Ubisense and HSBC sign £5 million loan facility (7830M)
29 Agosto 2013 - 10:50AM
UK Regulatory
TIDMUBI
RNS Number : 7830M
Ubisense Group PLC
29 August 2013
29 August, 2013
Ubisense and HSBC announce signing GBP5 million bank loan
Cambridge, UK - Ubisense Group plc ("Ubisense" or the "Company")
(AIM: UBI), a market leader in location-based smart technology, is
pleased to announce that it has signed a GBP5 million loan facility
with HSBC Bank plc ("HSBC") to expire in September 2016. This new
facility replaces the existing GBP2 million loan facility drawn
down in April 2013 and due to expire in November 2013. The
Company's current cash position is around GBP2 million with the
previous loan facility from HSBC being fully drawn down. On
completion of the new facility, the existing loan will be repaid
leaving the cash position of the business unchanged.
Gordon Campbell, CFO, commented: "We are very pleased to have
completed this refinancing, increasing both amount and duration, as
it will give us future working capital capacity to manage the
business whilst we continue to deliver our strategic objectives.
This is a strong endorsement of the Company from HSBC."
Chris Teale, Senior International Commercial Manager at HSBC
Cambridge, said: "Ubisense's technology is revolutionary and the
Company has a strong management team with a track record in
delivering success. HSBC's great strength lies in its international
reach and it is businesses such as Ubisense that will drive
economic recovery in the UK. HSBC is proud to be playing its part
in supporting the Company."
Ends
About Ubisense
Ubisense is a market leader of location-based smart technology
which enables companies to optimise their business processes. By
keeping track of key assets, Ubisense solutions bring clarity to
complex operations whilst also improving quality and reliability.
Ubisense Real-Time Location Intelligence Solutions are used by a
number of blue chip customers across the world, such as AGCO,
Airbus, Aston Martin, BMW, Cablevision, Daimler, Deutsche Telekom,
Duke Energy, John Deere, MINI and VW.
Ubisense is headquartered in Cambridge, UK, with offices in the
USA; Canada; France; Germany and Singapore. For more information
visit: http://www.ubisense.net.
Contact
Ubisense Tel: +44 (0) 1223
Richard Green 535170
Gordon Campbell
Canaccord Genuity Limited (NOMAD) Tel: +44 (0) 20 7523
8000
Simon Bridges
Lucy Tilley
FTI Consulting Tel: +44 (0) 20 7831
3113
Jon Snowball
Tracey Bowditch
This information is provided by RNS
The company news service from the London Stock Exchange
END
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