7 October 2022

NETCALL PLC

("Netcall" or the "Company")

Final redemption of BGF loan note

Netcall plc (AIM: NET), a leading provider of intelligent automation and customer engagement software, is pleased to announce that it has today issued an early redemption notice to redeem the final £2.9 million of its original £7.0 million loan note held by BGF Nominees Limited (part of the BGF Group Plc) (the "Loan Note").

Netcall made an initial £3.5 million repayment of the Loan Note on 9 November 2021 and a scheduled repayment of £0.6 million on 30 September 2022.  The final redemption payment of £2.9 million resulting from the issue of the early redemption notice will be paid on 14 October 2022 and the Company will be debt-free from that date.

The Loan Note was issued by the Company to part fund the acquisition of MatsSoft Limited in August 2017. The Loan Note had an annual interest rate of 8.5 per cent. and was repayable on or before 31 March 2025. Under the terms of the Loan Note, Netcall were able to issue an early redemption notice at any time after the four-year anniversary of the issue date of the Loan Note.  There is no additional interest cost resulting from the early redemption and the repayment will reduce the annual interest costs of the Loan Note from £0.3 million to £nil.

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About Netcall

Netcall's Liberty software platform with Intelligent Automation and Customer Engagement solutions helps organisations transform their businesses faster and more efficiently, empowering them to create a leaner, more customer-centric organisation.  

Netcall's customers span enterprise, healthcare and government sectors. These include two-thirds of the NHS Acute Health Trusts and leading corporates including Legal and General, Lloyds Banking Group, ITV and Nationwide Building Society.

Prior to publication the information communicated in this announcement was deemed by the Company to constitute inside information for the purposes of article 7 of the Market Abuse Regulations (EU) No 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations No 2019/310 ('MAR'). With the publication of this announcement, this information is now considered to be in the public domain.