Repayment and Cancellation of Mezzanine Finance Facility
27 February 2007
The Board of AutoLogic is pleased to announce that, following the completion of the placing of new ordinary shares to raise net proceeds of £12.1 million, the outstanding balance of £6.5 million (including accrued interest) under its mezzanine finance facility has been fully repaid, and that this facility has been cancelled.
Neil Johnson, Chairman of AutoLogic commented, “I am delighted that, following our successful placing of shares, the Company has today repaid and cancelled its mezzanine finance facility. This concludes the recent challenging restructuring of the Company’s finances. I now look forward with confidence to a successful future for AutoLogic in which the senior management will be able to fully focus on further developing our business and improving shareholder value.”
For further information please contact:
| John Merry Chief Executive AutoLogic Holdings plc |
Tel: 01934 523299 |
| Russell Brown Group Finance Director AutoLogic Holdings plc |
Tel: 01934 523299 |
| Arden Partners plc Chris Fielding Tom Fyson |
Tel: 020 7398 1638 |
| Media: Mark Way or Graham Moonie Madano Partnership |
Tel: 0207 593 4000 |
| Investors: Neville Harris IR Focus |
Tel: 0207 593 4016 |