Convertible Loan Notes & Notice of General Meeting

RNS Number : 9711C

Managed Support Services PLC

15 March 2011

 



FOR IMMEDIATE RELEASE                   

                                                                                                                        15 March 2011

Managed Support Services plc

("MSS" or the "Group")

Proposed issue of Convertible Loan Notes and Notice of General Meeting

Further to the announcement made on 10 March 2011 (RNS No. 6557C), MSS confirms that it has raised £500,000 by way of the issue of Convertible Loan Notes, conditional only on the passing of the appropriate resolutions at the forthcoming General Meeting on 31 March 2011.

The Convertible Loan Notes will pay interest on the principal amount at 7 per cent. per annum and will be convertible at anytime into new MSS Ordinary Shares at a conversion price of 5 pence per Ordinary Share.  If conversion does not take place before 31 January 2015, the Convertible Loan Notes will be redeemed by the Company.  The Convertible Loan Note issue has not been underwritten but the Company is in receipt of written commitments from the proposed investors. 

The Company has today posted a Circular to shareholders convening a General Meeting and containing full details of the proposed Convertible Loan Note issue.  A copy of this circular can be found on the Company's website at www.mssplc.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Managed Support Services plc:
Simon Beart, Chief Executive          Piers Wilson, Finance Director	07710 444370 01483 735703
Cenkos Securities plc:
Nick Wells / Stephen Keys	020 7397 8900
Buchanan Communications:
Richard Darby / Helen Chan	020 7466 5000
Merchant Securities:
Graeme Cull / Simon Clements	020 7382 0933

Notes to editors

Managed Support Services plc is a leading supplier of Environmental Compliance and technical Building Services.  The Group provides a broad range of Environmental Compliance services and HVAC building maintenance services for commercial properties.  MSS operates in a range of diverse markets with customers managing or owning commercial property, hotels and retail buildings.  Further information is obtainable from www.mssplc.com.

 

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