Business
Credit Facility
Credit Facility.
About this update from Xps Pensions Group Plc
[{"type":"text","content":"\n RNS Number : 4037P eXpansys Plc 24 March 2009 \n \neXpansys plc\n('eXpansys' or the 'Company')\n\nCredit Facility\n\nThe Company announces that it has today entered into a credit facility ('Arrangement') with Data Select Limited ('Data Select') for up to £1.25 million. The Arrangement is secured by way of a fixed and floating charge debenture between the Company and Data Select.\n\nData Select is a subsidiary of Phones International Group Limited. Given that the Virtual Phone Shop Limited, a substantial shareholder in eXpansys, is also a subsidiary of Phones International Group Limited, the Arrangement falls within the definition of related parties under the AIM Rules. The Directors, having consulted with Cenkos Securities plc as the Company's Nominated Adviser, consider the terms of this transaction are fair and reasonable insofar as the Company's Shareholders are concerned. In being consulted, Cenkos Securities has relied on the Directors' commercial assessment of the transaction.\n\n\nFor further information, please contact:\n\n\n\n\n\neXpansys plc\n\n\nTel: +44 (0) 7973 629916\n\n\n\n\nRoger Butterworth, CEO\n\n\[email protected] \n\n\n\n\nInvestor relations website\n\n\nwww.expansys.com/investor.aspx\n\n\n\n\n\nCenkos Securities plc\n\n\nTel: +44 (0) 20 7397 8926\n\n\n\n\nStephen Keys\n\n\[email protected]\n\n\n\n\n\nRawlings Financial PR Limited\n\n\nTel: +44 (0) 1653 618 016\n\n\n\n\nCatriona Valentine\n\n\[email protected]\n\n\n\n\n\n\n\nAbout eXpansys\n\nThe Group specialises in the sale of handheld electronic devices with wireless connectivity and boasts a wide offering ranging from smartphones and ultra mobile personal computers, to cameras and GPS equipment. eXpansys operates some 50 websites in 12 different languages, operating in 16 currencies. \n\nBased in Manchester, eXpansys has grown both organically and through acquisition and has a global infrastructure that allows it to service its international customer base through a network of warehouses in the UK, France, USA and Hong Kong. \n\n\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END AGRMGGZFVDLGLZM \n ","length":4377,"tagName":"div"}]