RNS Number : 6405W
Invu plc
31 July 2009
31 July 2009
Invu plc (the 'Company')
Annual Report & Accounts for the year ended 31 January 2009
and
Subscription for loan of £0.5 million signed
Invu plc (LSE, AIM: INVU), the developer and supplier of document management software, announces that its Annual Report & Accounts for the year ended 31 January 2009 are available on its website, www.invu.net, and are being posted to shareholders.
Notice ('Notice') of the Company's annual general meeting ('AGM') is incorporated in the Annual Report & Accounts. As further detailed in the Notice, the AGM is due to be held at the Company's offices at The Beren Blisworth Hill Farm, Stoke Road, Blisworth, Northamptonshire NN7 3DB at 10.00 a.m. on 26 August 2009. Full details of all the resolutions to be proposed at the AGM are more particularly described in the Notice.
In addition, as required under section 142 of Companies Act 1985, the Board of the Company has also convened the AGM to consider and discuss the steps to be taken to address the Company's present position whereby its net assets are less than half of the value of its called-up capital. Further information in relation to this issue is set out in the Notice.
Further to its Placing announcement of 23 July 2009, the Company announces that it has now signed a conditional subscription agreement ('Subscription Agreement') for the issue of £0.5 million secured loan notes with various Puma Venture Capital Trusts. The loan notes, whose issue is subject to the conditions below, will be repayable on 31 January 2011 and bear interest at 8 per cent. per annum.
The Subscription Agreement is conditional upon the following:-
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(a)
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admission of the placing shares as set out in the Company's circular to shareholders dated 23 July 2009;
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(b)
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release of certain existing securities; and
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(c)
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there being no material adverse change in the Company.
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Enquiries:
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Invu plc
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01604 859893
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Daniel Goldman, Non Executive Chairman
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Colin Gallick, CEO
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Financial Dynamics
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020 7831 3113
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Juliet Clarke/Haya Chelhot/Emma Appleton
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Arbuthnot Securities
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020 7012 2000
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Tom Griffiths/Ben Wells
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END
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