Brief: Acroud Starts Written Procedure Under Bond Loan, Mulls Intragroup Restructuring
07/06/2023 14:42
June 7 (Reuters) - Acroud AB ACROUD.ST :
* INITIATES A WRITTEN PROCEDURE UNDER ITS OUTSTANDING BOND LOAN
* HAS ALSO REACHED CERTAIN AGREEMENTS-IN-PRINCIPLE REGARDING UPCOMING EARN-OUT PAYMENTS
* IS CONTEMPLATING TO CARRY OUT INTRAGROUP RESTRUCTURING INVOLVING UNITS ACROUD SPORTS LTD,
ACROUD
MEDIA LTD
* AGREEMENT-IN-PRINCIPLE REGARDING CO'S PURCHASE OF VOONIX APS, MATCHING VISIONS LTD AND
TRAFFIC
GRID LTD TO SETTLE EUR 3.75 MILLION OF TOTAL EARN-OUT PAYMENT
* COMPANY HAS REACHED AN AGREEMENT-IN-PRINCIPLE WITH RIAE MEDIA LTD AS SELLER REGARDING CO'S
PURCHASE OF 60% OF SHARES IN ACROUD MEDIA LTD
* CONTEMPLATES TRANSFERRING ASSETS FROM ACROUD SPORTS LTD TO ACROUD MEDIA LTD PRIOR TO
SOLVENT
LIQUIDATION OF ACROUD SPORTS LTD
* REMOVAL OF RIAE MEDIA LTD'S PUT OPTION TO LOWER ACROUD'S TOTAL CONTINGENT LIABILITIES ON
BALANCE
SHEET WITH EUR 13 MILLION
Source text for Eikon: ID:nWkr7THDQN
Further company coverage: ACROUD.ST
(Gdansk Newsroom)
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