REG - Craneware plc - Release and discharge of security in the Company

CranewareAnnouncement

10/09/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240910:nRSJ5088Da&default-theme=true

RNS Number : 5088D  Craneware plc  10 September 2024

 

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                                     +44 (0)131 550 3100
 Keith Neilson, CEO
 Craig Preston, CFO

 Alma Strategic Communications (Financial PR)      +44 (0)20 3405 0205
 Caroline Forde, Kinvara Verdon                    craneware@almastrategic.com

 Peel Hunt (NOMAD and Joint Broker)                +44 (0)20 7418 8900
 Neil Patel, Benjamin Cryer, Kate Bannatyne

 Investec Bank PLC (Joint Broker)                  +44 (0)20 7597 5970
 Patrick Robb, Henry Reast, Shalin Bhamra

 Berenberg (Joint Broker)                          +44 (0)20 3207 7800
 Mark Whitmore, Richard Andrews, Dan Gee-Summons

 

 

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 (http://www.craneware.com/)

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCQKCBNBBKBBCK