TIDMGETB

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 GBP2million loan facility with SVB was cancelled on 28 February 2023 and was replaced with a GBP2million 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 
  investors@getbusy.com 
 finnCap (Nominated Adviser and Broker) 
  Matt Goode / Charlie Beeson / Milesh Hindocha 
  (Corporate Finance)                                 +44 (0)20 7220 
  Alice Lane / Harriet Ward (ECM)                      0500 
 Alma PR (Financial PR)                              +44 (0)20 7886 
  Hilary Buchanan / Andy Bryant / Hannah Campbell     2500

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCZZGMFVFRGFZG

(END) Dow Jones Newswires

March 13, 2023 03:00 ET (07:00 GMT)

Getbusy (LSE:GETB)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Getbusy Charts.
Getbusy (LSE:GETB)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Getbusy Charts.