GetBusy PLC No exposure from Silicon Valley Bank situation (7200S)
13 März 2023 - 8:00AM
UK Regulatory
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
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