Q Advisors Represents OpSec Security Group in its £15.7M Financing by Investcorp
LONDON, U.K., March 8, 2010 - OpSec Security Group plc, the supplier of anti-counterfeiting technologies and services, is pleased to announce the successful completion of the investment by Investcorp Technology Partners announced on 1 February 2010, raising a total of £15.7 million (before expenses).
The investment by Investcorp, through Orca Holdings Limited, a company established
for this purpose, includes:
- The placing of 20 million new preferred shares with Investcorp at 35 pence per share to raise £7.0 million before expenses; and
- A new US$13.0 million debt facility with Investcorp.
This is in addition to the 2,668,850 ordinary shares of 5 pence each placed with Investcorp at 24 pence per share on 1 February 2010, raising approximately
£640,000 before expenses.
The investment by Investcorp provides the Company with £15.7 million of new funds (£14.2 million net of expenses) which will enable OpSec to repay its existing facilities with The Royal Bank of Scotland, improve its balance sheet position and cash flow, and allow acquisitions and other investments to be considered.
In addition, Hazem Ben-Gacem and Anand Radhakrishnan, senior executives of
Investcorp Technology Partners, join the OpSec board with immediate effect.
Following the details announced on 1 February 2010, no further disclosure is required
under paragraph (g) of schedule 2 or Rule 17 of the AIM Rules for Companies.
David Mahony, Chairman of OpSec, said:
“We are very pleased to have successfully completed the investment by Investcorp and welcome Hazem and Anand to the Board. The involvement of Investcorp will be of considerable benefit to the Group’s future. There are, we believe, opportunities to make selective acquisitions and other investments on attractive terms that would enhance shareholder value. The funds raised will enable us to take advantage of these opportunities as they arise. This transaction is an important one for the Group and reinforces our optimism as to the future.”
For further information, please contact:
OpSec Security Group plc
Mark Turnage, Chief Executive +1 720 394 2803
Mike Angus, Finance Director +1 720 394 2803
Weber Shandwick Financial
Nick Oborne / Stephanie Badjonat 020 7067 0700
Oriel Securities Limited
Michael Shaw / Neil Langford 020 7710 7600
Investcorp Technology Partners
Deborah Botwood Smith 020 7629 6600
|