Nasstar PLC Interest rate margin reduction (3146F)
May 17 2017 - 2:00AM
UK Regulatory
TIDMNASA
RNS Number : 3146F
Nasstar PLC
17 May 2017
Nasstar plc
("Nasstar", "Company" or "Group")
Interest rate margin reduction
17(th) May 2017
Nasstar (stock code: NASA), a provider of hosted managed and
cloud computing services, is pleased to announce that following the
testing of its senior debt covenants as at 31 March 2017, at which
point leverage targets were surpassed, the interest margin payable
by the Company on its senior debt has reduced today to 2.5% from
2.75%.
Nigel Redwood, Chief Executive Officer of Nasstar, said:
"This represents a further step-down in our debt costs following
the reduction we achieved last year and once again demonstrates our
continued capability to deliver against our business plan."
For further information, please contact:-
Nasstar plc +44 (0) 1952 225 000
Nigel Redwood, Chief Executive Officer
Niki Redwood, Finance Director
finnCap Limited (Nominated Adviser & Broker) +44 (0) 20 7220 0500
Julian Blunt, James Thompson (Corporate Finance)
Stephen Norcross (Corporate broking)
About Nasstar plc
Nasstar (www.nasstar.com) and its wholly owned operating
businesses provide hosted managed and cloud computing services,
integrating private and public clouds supplying a robust, secure
and stable hosted Information Technology service to business
customers. The Group provides a true end to end service for clients
providing them with enhanced IT performance and greater cost
control over their IT function. The Group owns its primary data
centre, is head quartered in Telford with regional offices in
Northampton, London and Bournemouth whilst 24 x 7 support is
delivered from its Auckland office in New Zealand. Nasstar is an
accredited Microsoft Gold Partner, is the 2016 Citrix Networking
Partner of the Year and is certified to ISO 27001.
Nasstar specialises in building bespoke cloud hosted services to
manage a client's entire application set, tailor made to suit
specific industries, designing public, private and hybrid cloud
solutions to meet the objectives of the client. The solution is a
highly scalable service that provides benefits including "Anywhere
Access" to computing; a standardised corporate solution that can be
accessed globally in multiple languages; generating cost savings
when compared to the traditional IT ownership model whilst
replacing capital expenditure with a simple usage based payment
model.
Nasstar (AIM:NASA) was founded in 1998, admitted to AIM in
December 2005, acquired e-know.net Limited in a reverse takeover in
January 2014, Kamanchi Limited in July 2014, VESK in October 2015
and Modrus Limited in September 2016.
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
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