31st Mar 2008 07:45
Appian Technology PLC31 March 2008 Appian Technology plc / Ticker: APN / Market: AIM / Sector: Technology 31st March 2008 Appian Technology plc ('Appian' or 'the Company') Issue of Convertible Loan Notes 2010 (the "Convertible Loan Notes") Further to its announcement in its preliminary results on 4 March 2008 of itsintention to seek to issue convertible loan notes to raise up to £1 million,Appian Technology plc, the AIM listed provider of Automatic Number PlateRecognition systems ('ANPR') and traffic management products and solutions,announces that to date it has raised an aggregate of £727,957 following theissue of Convertible Loan Notes Subscription for the Convertible Loan Notes willremain open until further notice. The Convertible Loan Notes which are unsecured, bear an annual interest rate of8.25 per cent. payable quarterly in arrears and are convertible at any time intoordinary shares of £0.01 in Appian at 4 pence per share. Unless previouslypurchased, redeemed or converted, the Convertible Loan Notes will be repaid atpar in four equal instalments on 30 June 2009, 30 September 2009, 31 December2009 and 31 March 2010. The following directors of Appian have subscribed for Convertible Loan Notes asfollows: Pat Ryan £113,991Peter Coyle £30,000David Hearn £20,966 * * ENDS * * For further information visit www.appian-tech.com or contact: Pat Ryan Appian Technology plc Tel: 01628 554 754Tom Griffiths Arbuthnot Securities Tel: 020 7012 2000Hugo de Salis St. Brides Media & Finance Ltd Tel: 020 7236 1177 Notes to Editors: Appian Technology plc provides high tech products for automatic number platerecognition ('ANPR'), vehicle identification, modern traffic management, parkingguidance and car park management problems for the surveillance, counterterrorism, access control and congestion charging markets. Its key productsare Talon ('ANPR') and Navigator PGI (parking guidance information system), aswell as TalonSP, a software based version with all the functionality of Talon,which is capable of running a number of cameras on any modern PC platform. TheCompany also has a range of highly advanced number plate reading cameras. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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