Business
Update regarding Silicon Valley Bank
Update regarding Silicon Valley Bank.
About this update from Eagle Eye Solutions Group Plc
[{"type":"text","content":"\n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"MAR\"). UPON PUBLICATION OF THIS ANNOUNCEMENT THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC.\n \n \n \n \n \n 13 March 2023\n \n \n \n \n \n \n \n \n Eagle Eye Solutions Group plc\n \n \n \n (\"Eagle Eye\", the \"Group\", or the \"Company\")\n \n \n \n \n \n \n Update regarding Silicon Valley Bank\n \n \n \n \n \n \n \n \n Eagle Eye (LSE: \"EYE\"), a leading SaaS technology company that creates digital connections enabling personalised, real-time marketing, today\n \n provides\n \n \n an update in relation to\n \n Silicon Valley Bank UK (\"SVBUK\").\n \n \n \n \n \n The Company has a £5.0m loan facility with SVBUK, against which it has drawn down £2.0m and at 10 March 2023 had total cash of c. £7.8m*. The Company currently has no requirements to draw down further on its facility and awaits further information as to the status of its facility.\n \n \n The Group has no cash deposits with SVBUK. While some funds were deposited with Silicon Valley Bank US, the Board anticipates there will be no impact upon the Group from this, following the Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC that all deposits will be protected and available from today.\n \n \n \n \n \n The person responsible for the release of this announcement on behalf of the Company for the purposes of MAR is Lucy Sharman-Munday.\n \n \n * Total cash includes approximately £1.6m of cash within the recently acquired Untie Nots business.\n \n \n Enquiries:\n \n \n \n \n \n \n \n Eagle Eye Solutions Group plc\n \n \n \n \n \n \n Tel: 0844 824 3686\n \n \n \n \n \n \n \n Tim Mason, Chief Executive Officer\n \n \n \n \n \n \n \n \n \n \n \n \n \n Lucy Sharman-Munday, Chief Financial Officer\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Investec Bank plc (Nominated Adviser & Joint Broker)\n \n \n \n \n \n \n Tel: +44 20 7597 5970\n \n \n \n \n \n \n \n Corporate Broking & PLC Advisory: David Anderson, Nick Prowting\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n ...