Brief: Azelio Secures Loan, Intends To Carry Out Rights Issue

Azelio AB

02/05/2023 07:38

May 2 (Reuters) - Azelio AB  AZELIO.ST :
    * AZELIO SECURES LOAN OF SEK 30 MILLION, INTENDS TO CARRY
OUT A
RIGHTS ISSUE AND CONTINUED COST REDUCTIONS, AND NEGOTIATES A
STRATEGIC PARTNERSHIP
    * HAS ENTERED A CONDITIONAL LOAN AGREEMENT CORRESPONDING TO
SEK 30
MILLION FROM COMPANY'S MAJOR SHAREHOLDER
    * BOD INTENDS TO RESOLVE ON RIGHTS ISSUE OF ABOUT SEK 80
MILLION
TO FURTHER STRENGTHEN COMPANY'S FINANCIAL POSITION
    * CONTINUES WORK TO ADAPT ITS COST STRUCTURE THROUGH, AMONG
OTHER
THINGS, STAFF REDUCTIONS
    * MEASURES, WHEN FULLY IMPLEMENTED, ARE EXPECTED TO REDUCE
COMPANY'S COSTS BY APPROXIMATELY SEK 100 MILLION ON AN
ANNUALIZED BASIS.

Source text for Eikon:  ID:nMFN2knvFl 
Further company coverage:  AZELIO.ST 

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