Craneware
plc
("Craneware", the "Craneware Group", the "Company" or the
"Group")
Notice of release and
discharge of security in the Company
10
September 2024 - Craneware
(AIM: CRW.L), the market leader in Value Cycle solutions for the US
healthcare market, is pleased to announce that following the
satisfaction of certain performance conditions of the loan
agreement entered into in connection with the acquisition of Sentry
Data Systems Inc. ('Sentry'), the Security Trustee (acting on
instructions of the Lenders) has released the securities granted at
the time by the Company and the relevant subsidiaries which
provided security over all of the assets of the Company and
specified assets of the Group. As such the Company is now
unencumbered by this security and is automatically, irrevocably,
and unconditionally released, discharged and terminated of all the
released assets from the fixed and floating charges, Liens and
security interests constituted or intended to be constituted by the
original security documents.
The loan agreement was originally
entered into between Silicon Valley Bank, now known as HSBC
Innovation Banking, and the Company's banking syndicate and their
successors ('the Lenders'), to fund the acquisition of SDS Holdco,
Inc., the ultimate holding company of Sentry on 12th July 2021. The
debt facility comprised a term and revolving facilities agreement
and was secured by a Scots law floating charge, an English law
debenture and a New York law security agreement all of which were
granted by the Company and certain of its subsidiaries as
parties.
Keith Neilson, CEO of Craneware plc
commented:
"We
are pleased to have achieved this important milestone,
demonstrating the considerable progress of the enlarged Group since
the acquisition and integration of Sentry. Alongside meeting the
conditions of the loan agreement, our strong performance and
disciplined financial management allow us to invest in our
solutions, pay down debt and accelerate the growth of The Craneware
Group, for the benefit of all our stakeholders."
For
further information, please contact:
|
Craneware plc
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+44 (0)131 550 3100
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Keith Neilson, CEO
|
|
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Craig Preston, CFO
|
|
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Alma
Strategic Communications (Financial PR)
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+44 (0)20 3405 0205
|
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Caroline Forde, Kinvara
Verdon
|
craneware@almastrategic.com
|
|
Peel
Hunt (NOMAD and Joint Broker)
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+44 (0)20 7418 8900
|
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Neil Patel, Benjamin Cryer, Kate
Bannatyne
|
|
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Investec Bank PLC (Joint Broker)
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+44 (0)20 7597 5970
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Patrick Robb, Henry
Reast, Shalin
Bhamra
|
|
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Berenberg (Joint Broker)
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+44 (0)20 3207 7800
|
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Mark Whitmore, Richard
Andrews, Dan
Gee-Summons
|
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About Craneware
The Craneware Group (AIM:CRW.L), is
the market leader in value cycle solutions. For 25 years, we have
collaborated with U.S. healthcare providers to optimize revenue
integrity, pricing intelligence, decision support, labor
productivity, business of pharmacy, and 340B program
management.
Customers choose Trisus®, a HITRUST-
and SOC2 Type II-certified, SaaS-platform, to achieve operational
and financial excellence in pursuit of their healthcare mission -
delivering quality care to their communities. The Craneware Group -
Transforming the Business of Healthcare.
Learn more
at www.craneware.com