No exposure from Silicon Valley Bank situation

RNS Number : 7200S

GetBusy PLC

13 March 2023

 

13 March 2023

GetBusy plc

No exposure from Silicon Valley Bank situation

GetBusy plc ("GetBusy" or the "Group") (AIM: GETB), a leading provider of productivity software for professional and financial services, provides an update on the potential impact to the Group from the developing situation with regard to Silicon Valley Bank ("SVB").

As previously announced, the £2million loan facility with SVB was cancelled on 28 February 2023 and was replaced with a £2million facility with DJZ Investments Pty Limited.  Following this executed change, the Group has no exposure to SVB for any loan facilities.

Following the Joint Statement from the US Department of the Treasury, Federal Reserve, and FDIC on 12 March, the Group has no exposure to uninsured deposits with SVB.

The Board will continue to monitor the situation and will make further announcements in due course if required.

GetBusy plc [e-mail]
finnCap (Nominated Adviser and Broker) Matt Goode / Charlie Beeson / Milesh Hindocha (Corporate Finance) Alice Lane / Harriet Ward (ECM)	[phone]
Alma PR (Financial PR) Hilary Buchanan / Andy Bryant / Hannah Campbell	[phone]

About GetBusy

GetBusy's specialist productivity software solutions enable growing businesses to work securely and efficiently with their customers, suppliers and teams anytime, anywhere.  Our solutions can be delivered flexibly across cloud, mobile, hosted and on-premise platforms, whilst integrating seamlessly with a wide variety of other class-leading core business systems.

With over 75,000 paying users and over 3 million collaborators across multiple market sectors and jurisdictions, GetBusy is an established and fast-growing SaaS business delivering sustained double-digit growth in high-quality recurring subscription revenue over the long term.

Further information on the Group is available at www.getbusyplc.com

 

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