Bank of Scotland funding

Cashbox PLC 29 June 2007 Cashbox PLC ('Cashbox' or 'Company') Cashbox PLC secures funding with the Bank of Scotland Cashbox, the UK ATM provider, today announces that it has secured £8.75 million in funding from the Bank of Scotland. The funding is provided in the form of an £8 million loan facility and £750,000 in overdraft. The new finance will be used primarily to enable expansion of the business with the roll-out of ATM machines to meet existing and anticipated orders and to refinance the existing debt of General Capital Venture Finance Limited ('GCVF'). The first drawdown of debt will include £1.75 million plus VAT for extinguishment and early release payments to GCVF. The CEO of Cashbox, Ciaran Morton commented, 'This significant level of funding enables Cashbox to continue with the rapid deployment of ATMs across its extensive contracted estates. Our path to profitability is driven by our growing estate volume, coupled with our outstanding support services. By remaining wholly focused upon meeting customers' needs, Cashbox is uniquely positioned to become the leading independent ATM deployer in the UK'. CFO of Cashbox David Auger noted, 'This deal with Bank of Scotland has created a secure long term financial platform for Cashbox, which enables the management to concentrate upon accelerating our growth, and building processes and structures to support increased business velocity and scale'. For further information: Cashbox PLC 0870 126 2274 David Auger, CFO Threadneedle Communications 020 7936 9606 Josh Royston/Graham Herring Seymour Pierce 020 7107 8000 Jonathan Wright Notes to the Editor: Cashbox PLC Cashbox is a leading independent ATM deployer (IAD) whose estate spans the length and breadth of the UK. Cashbox installs and operates its estate of ATMs, with sites throughout the UK where there is a demand for cash withdrawal services and where customers are willing to pay a convenience fee. The Company differentiates itself from other UK ATM suppliers by offering the Placement Model, whereby the ATM is purchased by Cashbox under lease hire. The ATM is FREE to the merchant. The machines are replenished by the merchant, eliminating the need for third party cash handling costs. The Company also focuses heavily on post placement marketing backing as well as technical support and service via its in-house 24/7 helpdesk that is supported by a team of Cashbox trained and certified personnel. Cashbox was granted membership of LINK in March 2004, allowing Cashbox to incorporate its ATMs in the LINK network. Cashbox also has a Bank of England settlement account and became the first IAD in the UK to become completely compliant with the Triple DES security standard in June 2004. The Company is listed on the AIM market of the London Stock Exchange. This information is provided by RNS The company news service from the London Stock Exchange
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