B2B Integration Software Company TIE Holding N.V. (“TIE”) listed on the EuroNext Amsterdam Stock Exchange hereby announces that it has placed 1.000.000 new shares with a professional investor at a price of EUR 0.54.
The transaction will be completed this week and will further strengthen TIE’s shareholders equity by EUR 540.000. The cash proceeds will be used to prepay a portion of the Euro1.5 million of debt currently outstanding . The total number of shares in issue following this placement will be 22,035,225.
Dick Raman, CEO of TIE: “After the conversion of the major part of our debt yesterday, we have now made another step in the direction of becoming debt-free. The business of TIE is operating as planned and we reconfirm that we plan to report a net positive result in 2004”
About TIE
TIE is an international B2B Integration software company, established in 1987 and listed on the EuroNext Amsterdam Stock Exchange in the NextEconomy Index. TIE provides state-of-the-art software tools and in-depth expertise to TIE subsidiaries and resellers all over the world. These local Solution Providers help companies to do business electronically in order to improve the efficiency and effectiveness of their business processes and to lower their costs. TIE's main solutions in the 'Enterprise Portal Framework' allow companies to integrate their back-office processes to those of their trading partners and to manage product information. Since the TIE solutions are based on years of EDI as well as XML experience, TIE customers can reap the benefit of true open trading. TIE has a broad customer base in the Netherlands, Belgium and the USA and is a major player in Europe, Latin America and Asia.
Further information: TIE Holding N.V.
Dick Raman, President & CEO
Beech Avenue 180
1119 PS AMSTERDAM (Schiphol-Rijk)
The Netherlands
Tel: +31-20-658 99 03
Fax: +31-20-658 99 02
e-mail: info@TIEglobal.com
Web site: http://www.TIEglobal.com