Enition PLC
09 August 2004
Enition plc
('Enition' or the 'Company')
Issue of Debt
Enition announces that it has raised funds of £350,000 through the issue of loan
notes, including £20,000 on a non-convertible basis to CEO, Ray Dutton. The
funds raised shall be utilised as working capital for the Company to advance the
marketing programme of its RESolution software product.
The loan notes will accrue interest at an interest rate equal to LIBOR and are
repayable upon the earlier of the first anniversay of their issue or upon
certain other events occurring. If the loans are not repaid pursuant to the
terms of the loan notes, then the holders of £330,000 of loan notes shall be
entitled to convert their loan notes into ordinary shares in Enition at the
lower mid-market price of the Company's shares on a) the date of issue of the
loans or b) the date of conversion.
Contact:
Ray Dutton, Enition plc Tel: 07767 617 889
Jeremy Porter, Seymour Pierce Ltd Tel: 020 7107 8000
About Enition plc:
Its RESolution technology provides an enterprise-wide platform for managing
every aspect of compliance from information integration and process deployment
to reporting and policy enforcement.
RESolution's innovative metadata map, together with an intuitive drag & drop
interface, lets business analysts quickly and easily connect data stored in
silos (e.g. central databases, local spreadsheets and department application
files) and create common processes and business rules that can be federated
across the enterprise.
With RESolution, organisations can:
•Regain control - RESolution removes technology barriers to and drives out
the cost and complexity of corporate, statutory and regulatory compliance.
Businesses can gain better visibility and control of their operations
through enhanced reporting and, in turn, ensure that compliance and best
practice policies are enforced from the bottom up;
•Increase business agility - Front-line business units gain real-time
access to local and corporate data, regardless of its source, location or
technology. RESolution creates a framework for collaboration, reduces the
risk of data duplication and removes the need for manual consolidation of
information;
•Enhance the business value delivered by existing IT assets - RESolution
adds a non-invasive layer to an organisation's existing data architecture,
enabling it to deploy new business processes faster and more effectively
using existing IT systems and applications.
Enition works with a select number of blue-chip deployment partners, including
IBM. RESolution has been implemented in customer organisations across the UK and
the Nordics, including Norcosse and the Lovisenburg hospital complex.
www.cdesolutions.com
This information is provided by RNS
The company news service from the London Stock Exchange
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