Loan Note Extension

RNS Number : 5514W

Journeo PLC

23 December 2021

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").

23 December 2021

Journeo plc

("Journeo", "Company" or "the Group")

Loan Note Extension

Journeo plc (AIM: JNEO), the information systems and transport technical services group, is pleased to announce that it has agreed to extended the maturity date of its loan note to 31 March 2023.

The Company has £0.55m of loan notes, £0.3m of the loan notes were issued and announced on 8 December 2016 ("Loan Notes One") and a further £0.25m of the loan notes were issued and announced on 24 December 2018 ("Loan Notes Two").

Loan Notes One had an initial maturity date of 31 December 2019 before it was extended to 31 March 2021 and then 31 March 2022 as announced on 24 December 2018 and 14 December 2020 respectively. Loan Notes Two had an initial maturity date of 31 March 2022. The Company today announces that it has agreed to extend the maturity date of both Loan Notes One and Two, such that they will now be repayable on 31 March 2023. All other terms of these Loan Notes remain unchanged.

A digital copy of this announcement will be available on the Group's website: www.journeo.com .

For further information, please contact:

Journeo plc Russ Singleton/ Nick Lowe	[phone]
WH Ireland  - Nominated Adviser and Broker Mike Coe/ Sarah Mather	[phone]

Notes to editors:

Journeo plc is an information systems and technical services business focussed on public transport and related infrastructure within towns, cities, airports, and local authorities. The Company works extensively with local government departments, combined authorities, and many of the largest multinational transport operators, supporting them as systems converge towards a more efficient and sustainable smarter-cities future.

The business currently comprises two segments:

· Fleet operator solutions: CCTV video surveillance to improve passenger & driver safety, telematics for vehicle and driver performance monitoring, real-time communications for remote condition monitoring and automatic passenger counting.

· Passenger transport infrastructure solutions: design, manufacture, installation, and management of hardware and software for electronic public transport information systems, in and around towns, cities, ferry terminals and airports which includes smart-ticketing and wayfinding.

In the last few years, the Company has invested over £5m in research and development, enabling it to design and supply advanced solutions for customers' complex requirements and the demands of modern public transport. With an Internet of Things (IoT) approach and open standards, together with field-proven and reliable engineering, Journeo is able to offer flexible, scalable products and services that can integrate with existing technology while preparing for future advancements.

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