B2B Integration Software Company TIE Holding N.V. ("TIE") listed on the EuroNext Amsterdam Stock Exchange hereby announces that it has placed 825,000 new shares with a professional investor at a price of EUR 0.40. Also TIE decided to convert into shares one outstanding convertible bond.
The Convertible Bond with a principle amount of EUR 228.000 that was issued on August 21, 2003 to Mercurius Capital Management Ltd, has now been converted into 950.000 ordinary shares TIE Holding NV as stipulated by the terms of the Bond. Mercurius is an Asset Management company headquartered in London, UK
The transactions will be completed this week. The cash proceeds of the share issue amount to EUR 330.000 and will be used to further strengthen TIE’s ability to invest in its future growth. The total number of shares in issue following this placement will be 28,320,725.
Dick Raman, CEO of TIE: "We have decided to place shares even at the current share price, because we are convinced that the proceeds can be used to strengthen our business. Only this will ultimately lead to increased confidence in TIE by investors and increased shareholder value."