New Debt Facility and Result of General Meeting

RNS Number : 2487M

Corero Network Security PLC

26 April 2018

 

26 April 2018

Corero Network Security plc

("Corero" or the "Company")

New Debt Facility

and

Result of General Meeting

On 5 April 2018, Corero (AIM: CNS), the network security company, announced a conditional Placing and Subscription to raise £4.0 million (before expenses) and that it was in final stage discussions with a bank regarding a new debt facility ('the Facility') to provide additional finance of up to £3.0 million ($4.2 million).   

The Company today confirms that it has entered into the Facility, on the terms set out in the announcement on 5 April 2018, subject to completion of the Placing and Subscription and certain customary pre-draw down conditions. The Company is also pleased to announce that at its General Meeting held earlier today, the resolutions as set out in the Circular dated 5 April 2018 were duly passed without amendment. The Directors therefore expect the Placing and Subscription to become unconditional on 27 April 2018, following admission of the Placing Shares and Subscription Shares to AIM.

Defined terms used in this announcement not otherwise defined shall have the same meanings as those terms defined and used in the Circular dated 5 April 2018.

Enquiries:

Corero Network Security plc	Tel: [phone]
Andrew Miller, CFO
Cenkos Securities plc	Tel: [phone]
Mark Connelly / Bobbie Hilliam - NOMAD
Michael Johnson - Sales
Vigo Communications	Tel: [phone]
Jeremy Garcia / Ben Simons
[e-mail]

 

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