SIMTRONICS ASA ANNOUNCES ADDITIONAL FUNDING AGREEMENT WITH AUTRONICA FIRE AND SECURITY AS

 

Simtronics ASA announced today that it has signed an agreement for bridge funding of NOK 10 million with Autronica Fire and Security AS. The bridge funding is an additional funding to the NOK 18 million bridge loan that was announced 3rd August last year.

The loan shall be used for financing present and future working capital requirements of the company. The loan, together with accrued interest and fees shall be repaid on 30 September 2011 or at such earlier date as Autronica may notify to Simtronics.

For further information, please contact:

Rune Martini, CEO, Simtronics ASA

Phone 47 48 07 80 80

www.simtronics.eu (http://www.simtronics.eu)

Simtronics ASA (Oslo Stock Exchange: SIMTRO) works to prevent disasters from happening. The company is an international supplier of fire and gas safety systems, active fire fighting solutions and fire prevention systems. Simtronics' flame and gas detectors represent the most accurate, reliable and robust safety technology available. The Company's products, solutions and systems are used by the oil and gas industry as well as in shipping, petrochemical and other process industries and in mining. Simtronics has a well established market base in Europe with Norway, France, UK and Germany as the single most important markets. Simtronics' heritage goes back to 1948.

About Us

Simtronics ASA is an international supplier of gas and flame detection systems, extinguishing solutions and fire prevention systems. Our systems and solutions are used worldwide to help protect life and assets. Simtronics` systems and solutions represent the most accurate, reliable and robust safety technology available. The Company`s products are used by the oil and gas industry as well as in shipping, petrochemical and other process industries and in mining. Simtronics has a well established market base in Europe with Norway, France, UK and Germany as the single most important markets. Simtronics` heritage goes back to 1948.

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