Brief: RNB Retail And Brands Sells Brothers, Changes Business To Medtech
27/09/2021 06:42
Sept 27 (Reuters) - Rnb Retail and Brands AB (publ) RNBS.ST :
* TO SELL BROTHERS
* TO ACQUIRE COALA LIFE
* TO ACUQIRE COALA-LIFE AB VIA ISSUE IN-KIND
* TO BECOME DEBT FREE BY AMONG OTHERS, CONVERT PARTS OF OUTSTANDING BOND LOANS AND OTHERS
LIABILITIES AGAINST SHARES IN RNB THROUGH SET-OFF ISSUE
* WHEN NEGOTIATING TRANSACTIONS, PARTIES HAVE VALUED COALA LIFE AT SEK 400 MILLION AND RNB
AT SEK
100 MILLION
* ACQUISITION MEANS RNB CHANGES BUSINESS FOCUS
* TO ESTABLISH NEW BUSINESS WITHIN DEVELOPMENT AND MARKETING OF MEDICAL TECHNOLOGY
* NEW BUISINEES (RNB AFTER NAME CHANGE) TO BE COALA-LIFE GROUP AB
* COALA LIFES FINANCIAL TARGET IS TO REACH SEK 250 MILLION IN 2024 WITH POSITIVE OPERATING
RESULT
* IN CONNECTION WITH TRANSACTIONS, RNB INTENDS TO CHANGE MARKET PLACE FROM NASDAQ
STOCKHOLM'S MAIN
LIST TO NASDAQ FIRST NORTH GROWTH MARKET
* EGM IN CO TO ELECT NEW BOARD WITH PER CARENDI AS CHAIRMAN
* COALA LIFE'S CEO DAN PITULIA TO CONTINUE IN HIS ROLE
* INTENDS TO DIVEST EXISTING BUSINESS THROUGH SALE OF ALL SHARES IN UNIT BROTHERS & SISTERS
AB
(AND INDIRECTLY BROTHERS AB) AGAINST RECEIVING CASH PURCHASE PRICE OF SEK 10 MILLION
Source text for Eikon: ID:nWkr8J8f2j
Further company coverage: RNBS.ST
(Gdansk Newsroom)
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