Tandem Group PLC
21 February 2000
Tandem Group plc
Share Placing and debt write off
At an Extraordinary General Meeting held today, shareholders of Tandem Group
plc approved the placing of new ordinary shares to raise £550,000, net of
expenses.
Proceeds from the placing will be used to eliminate bank debt totalling
£1,387,000. In consideration of the early repayment of £548,000, two members
of the Group's banking consortium have agreed to write off in aggregate
£839,000.
The increase in shareholder funds and reduction of bank debt will enable the
Group to pursue other opportunities which the board is considering.
For further information contact:
Mervyn Keene (Finance Director, Tandem Group plc) 01733 211399