B2B Integration Software Company TIE Holding N.V. (“TIE”) listed on the EuroNext Amsterdam Stock Exchange hereby announces that it has placed 875,000 new shares with a professional investor at a price of EUR 0.42, which is above yesterday’s closing price.
The transaction will be completed this week and will further strengthen TIE’s shareholders equity by EUR 367,500. The cash proceeds will be used to invest in TIE’s growth in the next year. The total number of shares in issue following this placement will be 26,545,725.
Dick Raman, CEO of TIE: “The transitional year 2004 is almost over for TIE. Next month we will start our new financial year. We have defined a number of new activities for TIE in the newyear. XBRL, the global standard for financial reporting and the UCCnet certification that will enable us to strengthen our position in the US market, are the most important here. We are very pleased that we were able to place an additional block of shares. The proceeds will be used to strengthen TIE’s financial position and enable us to invest in these new activities. The management of TIE is confident that our target of 12-20% revenue growth for 2005 can be achieved, that TIE will remain profitable and that TIE can benefit from the consolidation opportunities in the market.”
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