Payment of outstanding loan b

RNS Number : 9327S

Eckoh PLC

20 September 2010

 



20 September 2010

Eckoh plc

("Eckoh" or the "Company")

Payment of outstanding loan by Redstone

Eckoh plc, the UK's leading developer of speech recognition solutions for customer contact centres, announces that it has received all the monies owed from the outstanding loan to Redstone plc ("Redstone") as per the agreement announced on 24 August 2010.

Following the sale of the outstanding 60 million shares on Friday 17 September 2010, the Company confirms that it is now in receipt of the following:

·    The settlement fee of GBP 0.5 million

·    GBP 1.0 million (before expenses) from the sale of the entire 200,000,000 Redstone shares issued to Eckoh as part of the settlement agreement

The Company no longer has an interest in Redstone and, as such, the conditions of the outstanding loan owed by Redstone to Eckoh have been satisfied.  

Enquiries:

Eckoh plc
Nik Philpot, Chief Executive Officer
Adam Moloney, Group Finance Director
www.eckoh.com	Tel: [phone]
Corfin Public Relations
Harry Chathli, Claire Norbury	Tel: [phone]
Seymour Pierce
Jonathan Wright, Jeremy Porter (Nominated Adviser)	Tel: [phone]
Jacqui Briscoe (Corporate Broking)

 

END

 

 

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