B2B Integration Software Company TIE Holding N.V. (“TIE”) listed on the EuroNext Amsterdam Stock Exchange hereby announces that it has placed 1.200.000 new shares with two professional investors at a price of EUR 0.58 per share.
The transaction will be completed this week and will further strengthen TIE’s shareholders equity by EUR 696.000. The total number of shares in issue following this placement will be 23,235,225. The majority of the cash proceeds will be used to prepay the loan granted by Berkshire Investments Nederland BV to TIE. The balance thereafter will be EUR 556,000 and TIE has reached agreement with Berkshire that the balance will be settled in July.
Dick Raman, CEO of TIE: “At the Annual General Meeting of Shareholders yesterday, the Annual Report for 2003 was adopted and the Management and the Supervisory Board were discharged by a unanimous vote from the shareholders, expressing in this way their support for the policy and the management of the Company. This management has now almost repaid all of TIE’s EUR 5 million debt and will improve TIE’s negative Equity from EUR -8.6 million to EUR -3.5 million. The reorganization in October 2003 is now showing positive results and TIE’s business is picking up as well, which is underpinned by a pronounced interest from the market for TIE’s products and services.”
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