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TIE Holding N.V. Management of TIE invest in the Company Jan Sundelin appointed CEO of TIE
Master Data Management Software Company TIE Holding N.V. ("TIE") listed on the NYSE Euronext Amsterdam Stock Exchange hereby announces that it has completed the financial restructuring and has concluded several agreements with investors and its management. TIE also announces that Jan Sundelin has been appointed CEO of the Company. TIE has reached an agreement with two professional investors regarding a EUR 750,000 loan, to be repaid by means of two ten year Convertible Bonds, with a one year lock-up period. The Convertible Bonds, at a conversion price of EUR 0,10, will be issued by TIE upon receipt of the loan. In return, the Company has decided to grant 500.000 options to acquire shares in the Company. The stock options will be granted at a strike price of EUR 0,10, which is the closing price of the TIE stock on Monday June 2, 2008. The options have a vesting period of one year and a full term of ten years. TIE has also reached an agreement regarding the EUR 500K and EUR 200K loan, provided by Alto Imaging Group N.V., a company that is owned by Mr Peter van Schaick, currently main shareholder and member of the Supervisory Board of TIE. The EUR 200K loan will be extended for an additional period of one year. The EUR 500K loan will be partially converted into a ten year Convertible Bond, with a one year lock-up period and at a conversion price of EUR 0,10. Following the issue of the EUR 395K Convertible Bond, Peter van Schaick, through Alto Imaging Group still holds <30% of total number of shares in issue. To express their commitment and trust in the Company, several members of management of TIE have decided to invest in the company. Managers in the United States, as well as in The Netherlands invest EUR 265,000 in TIE in total. TIE will issue a ten year Convertible Bond to each of these investors, with a one year lock-up and at a conversion price of EUR 0,10. Additionally, the Company has decided to grant the investing management members options to acquire shares in the Company. Based upon a Stock Option Plan for Management of TIE, the Company shall grant a total of 2,650,000 options to the investing management members. The stock options will be granted at a strike price of EUR 0,10, which is the closing price of the TIE stock on Monday June 2, 2008. The options are conditional, have a vesting period of one year and a full term of ten years. Jan Sundelin, sole member of the Management Board invests EUR 80K in the Company and will be awarded with 800.000 options. Following the accomplishment of this financial restructuring, the Supervisory Board has decided to appoint Jan Sundelin as CEO of the Company. "The Supervisory Board is content with the accomplishments of Jan so far", says Ton Veth, Chairman of the Supervisory Board of TIE. "After concluding the financial restructuring, we are convinced that with Jan as CEO of TIE, the Company can grow into a healthy and profitable corporation." "Management of TIE is motivated and willing to show their dedication and believe in the Company by means of a private investment in TIE" says Jan Sundelin, the new CEO of TIE. "This cleared the way for additional investors, thus providing benefits to the Company for over EUR 1,5m. Upon their expression of commitment and trust in TIE, the Company has decided to grant stock options in return. The Company launches a Stock Options Plan for Management of TIE. With the completion of the financial restructuring, the conditions are set for a bright future. The proven and very competitive solutions that TIE offers are further positioned in new and upcoming market segments with a strong focus on sales & marketing." Profile TIE TIE bridges the gap between online and traditional business. TIE helps industry and supply chain partners to achieve electronic business collaboration with solutions in the traditional and upcoming markets like Data Quality Management, e-Invoicing, Master Data Management and Digital Channel Communications. Our solutions are proven to lower costs, increase revenue and optimize business processes. Because we have decades of experience to share, TIE remains a key contributor to the development and implementation of global eCommerce standards. TIE is a publicly held company with offices in the United States, France, and the Netherlands.
Further information: TIE Holding N.V.
Jan Sundelin, CEO
Antareslaan 22-24 2132 JE Hoofddorp The Netherlands Tel: +31-20-658 93 33 Fax: +31-20-658 99 02
