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Bank Facility

28th Mar 2014 07:01

RNS Number : 3980D
Digital Globe Services Limited
28 March 2014
 

28 March 2014

 

Digital Globe Services, Ltd.

(the "Company," "the Group" and together with its subsidiaries "DGS")

 

Bank Facility

 

Digital Globe Services, Ltd. (AIM: DGS), a leading provider of online customer acquisition solutions for large, consumer-facing organisations, announces that its indirect subsidiary, Digital Globe Services, Inc. ("DGS Inc.") has entered into a working capital facility with borrowing capacity up to $3.5 million with a US bank.

 

The Facility is a senior, secured working capital, demand note with an interest rate of the greater of WSJ Prime Rate or 5.5%, due on the earlier of 1 November 2014 or on demand. The Facility may be renewed by mutual agreement of the parties. The Facility is a receivables finance facility secured by a charge over the assets of DGS Inc. The Company is not guaranteeing any payments under the Facility.

 

The Facility provides the Group with additional resources for capital investment should funding requirements arise in order to support the Group's strategic growth initiatives.

 

 

 

For further information please contact:

 

Digital Globe Services, Ltd.

 www.dgsworld.com

Jeff Cox, CEO

+1 303 736 2105

Sandra Rodger, CFO

N+1 Singer

Shaun Dobson / Aubrey Powell / Matt Thomas

+44 20 7496 3000

Newgate Threadneedle

+44 20 7653 9850

Hilary Millar / Caroline Forde / Josh Royston / Jasper Randall

 

Overview of DGS

Founded in 2008 with offices in London, Bermuda, Netherlands, USA and Ireland, DGS is a specialist provider of outsourced online customer acquisition solutions for large, consumer-facing corporations. DGS delivers customers to its clients through optimised paid search, integrated websites and contact centre support, receiving a fee for each customer acquired for its clients.

 

DGS is seeking to establish itself as the leading international provider of outsourced online customer acquisition services, through its focus on having the premier technology platform for pricing and procuring paid search advertising on a cost effective basis. Paid search refers to the auction process for key search terms that search providers run and in which prospective advertisers, or their agents, compete in order to have their advertising or search results displayed.

 

By using its optimising technology platform, dgSMART, and its experience of website management, efficient contact centre operations and other process expertise, DGS is able to bid appropriately and cost effectively for search terms in order to achieve conversion rates that deliver profitable, high quality customers to its clients.

 

DGS employs over 600 staff in Europe, North America and Asia. The Company currently has over 30 direct and indirect client relationships globally, many of which are with companies in the US Fortune 500. In 2012, DGS commenced operations in Canada and Mexico and, in February 2013, its shares were admitted to trading on AIM, raising additional funds in order to support further growth opportunities in Latin America, Europe and Asia Pacific. In November 2013 DGS acquired the education business unit of a San Francisco based online customer acquisition company and began serving educational institutions via a sector focused business unit, DGS Edu. DGS has also recently started providing its customer acquisition services to the home automation and renewable energy sector, and is examining additional opportunities in the insurance, retail banking, utility and consumer technology sectors.

This information is provided by RNS
The company news service from the London Stock Exchange
 
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