Danka Receives Bank Approval of its Business Plan.ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Dec. 9, 1998--Danka Business Systems PLC (Nasdaq:DANKY) today announced its bank group approved the company's business plan and that as a result, the company will receive the remainder of the $75.0 million in funds available under its waiver The voluntary surrender of a known right; conduct supporting an inference that a particular right has been relinquished. The term waiver is used in many legal contexts. agreement. Approval was granted to the company following their meetings on Dec. 7 and 8. Larry Switzer, chief executive, commented: "We are pleased by our lenders' positive outlook on the company, and agreement that the waiver requirements have been fulfilled ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. . This approval will allow us the opportunity to move forward and focus on the business at hand." The company continues its negotiation toward a resolution of its Kodak relationship and implementation of its restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). plan. The company expects to announce the details with the third quarter earnings announcement. Danka Business Systems PLC, headquartered in London, England and St. Petersburg, Fla., is one of the largest independent suppliers of office imaging equipment, supplies and services. Danka employs approximately 20,000 people and provides office products and services in over 30 countries around the world. Certain statements contained in this press release are forward-looking, and contain information relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the company that is based on the beliefs of management as well as assumptions made by, and information currently available to, management. Such statements reflect the current views of the company 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 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. including, but not limited to, the risks that the remainder of the $75.0 million in funds may not be sufficient to meet the company's liquidity needs, that the company may not be able to reach a mutually satisfactory agreement with Kodak with respect to their relationship and that the company may not be able to successfully implement its restructuring plan. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . The company undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or that arise after the date hereof. |
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