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Fitbug Holdings PLC  -  FITB   

Secures £500,000 Loan on Attractive Terms

Released 07:00 28-Jan-2013

RNS Number : 4289W
Fitbug Holdings PLC
28 January 2013

Fitbug Holdings Plc / Epic: FITB.L / Index: AIM / Sector: Leisure

28 January 2013

Fitbug Holdings Plc ('Fitbug' or 'the Company')

Secures £500,000 Loan on Attractive Terms


Fitbug Holdings Plc, the AIM listed provider of online personal health and well-being services, is pleased to announce that it has agreed the terms of a £500,000 ('the Loan') with Kifin Limited ('Loan Holder'), a Kirsh Group subsidiary.


The Loan is repayable by 31 July 2014 and will accrue interest at a rate of 5% per annum, payable on a quarterly basis.  If during the term of the Loan Fitbug undertakes an equity issue, the Loan Holder can elect to convert some or the entire Loan into new ordinary shares in Fitbug.


Fergus Kee, Executive Chairman, said "Following the interest shown in Fitbug's connected health product range at this month's Consumer Electronics Show in Las Vegas, and the launch of three new products, this Loan, on attractive terms, provides additional funds to capitalise on the Connected Health market, which is particularly buoyant in North America."




For further information visit or contact:


Paul Landau/Andrew Brummer


Fitbug Holdings Plc


020 7449 1000

Mark Percy/Catherine Leftley/Katie Ratner


Seymour Pierce


020 7107 8000

Claire Louise Noyce/Deepak Reddy

Hybridan LLP


020 7947 4350

Elisabeth Cowell/Charlotte Heap


St Brides Media & Finance Ltd


020 7236 1177




Fitbug is a leading provider of online health and well-being services to help individuals to improve their lifestyles by making realistic changes to their daily routine. It combines activity tracking devices, which download to to provide an understanding of each user's daily activity achievements, with web technology which provides users with personalised weekly activity and nutrition targets, feedback, advice and encouragement.


Key market sectors include health insurance and rewards providers, workplace health programmes, Primary Care Trusts, fitness operators and consumers. Increasingly, Fitbug's platform acts as the driving force behind third party services such as white label sites, activity driven games and challenge microsites and rewards programmes.


The Company's main focus is now on building strategic partnerships with organisations, with the United States as a key market, which can integrate Fitbug into their own service/product offerings or resell to their customer base. Visit for more information.


The Fitbug business was founded by Paul Landau, CEO of Fitbug Limited. Fergus Kee, Executive Chairman of the Company is the former Managing Director of Bupa's £2.1 billion turnover UK and North American Division.

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Secures £500,000 Loan on Attractive Terms - RNS