Danka Completes Redemption of $47.6 Million, Face Value Senior Subordinated Notes.Business Editors ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Aug. 20, 2003 Danka Business Systems PLC (Nasdaq:DANKY) today announced that it has completed the redemption of its $47.6 Million in principal amount of zero coupon subordinated notes due April 1, 2004. The notes were redeemed at their par value. The Company had placed the $47.6 Million in escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. in connection with the closing of its $175,000,000 aggregate principal senior notes offering which was completed on July 1, 2003. "We are pleased that as part of our successfully completed refinancing Refinancing An extension and/or increase in amount of existing debt. , we have been able to pay back these investors at par value, eight months earlier than they anticipated," said Mark Wolfinger, Danka's Chief Financial Officer. The Company will not be required to make principal payments on its other indebtedness until its $64.5 Million face value 10% subordinated notes are due on April 1, 2008. About Danka Danka delivers value to clients worldwide by using its expert technical and professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. to implement effective document information solutions. As one of the largest independent providers of office imaging equipment, document solutions and related services and supplies Danka enables choice, convenience and continuity. Danka's vision is to empower empower verb To encourage or provide a person with the means or information to become involved in solving his/her own problems customers to benefit fully from the convergence of image and document technologies in a connected environment. This approach should strengthen the company's client relationships and expand its strategic value. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. : Certain statements contained in this press release, or otherwise made by our officers, including statements related to our future performance and our outlook for our businesses and respective markets, projections, statements of our plans or objectives, forecasts of market trends and other matters, are forward-looking statements, and contain information relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc us that is based on our beliefs as well as assumptions, made by, and information currently available to, our management. The words "goal", "anticipate", "expect", "believe" and similar expressions as they relate to us are intended to identify forward-looking statements, although not all forward looking statements contain such identifying words. No assurance can be given that the results in any forward-looking statement will be achieved. For the forward-looking statements, we claim the protection of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for forward-looking statements provided for in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially from those reflected in the forward-looking statements. |
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