Brief: Emplicure Requests Conversion Of Loans Of About SEK 9.8 Mln

Emplicure AB (publ)

29/03/2023 14:25

March 29 (Reuters) - Emplicure AB (publ)  EMPLI.ST :
    * THE BOARD OF DIRECTORS OF EMPLICURE REQUESTS CONVERSION OF LOANS OF APPROX. 9.8 MSEK AND
PROPOSES AN EXTENDED AUTHORISATION TO ISSUE SHARES FOR THE COMPANY'S CONTINUED CAPITAL NEED
    * REASON  IS THAT A REPAYMENT OF LOAN AMOUNT TO CREDITORS IS NOT DEEMED TO BE POSSIBLE DUE
TO
COMPANY'S FINANCIAL SITUATION
    * BOARD PROPOSES TO INCREASE SHARE CAPITAL WITH NOT MORE THAN 1,120,137.20 SEK
    * IT HAS NOT BEEN POSSIBLE TO CARRY OUT OR SECURE ALTERNATIVE FINANCING ON ACCEPTABLE TERMS
BEFORE
DUE DATE FOR REPAYMENT OF LOAN
    * NEW SHARES ARE ISSUED AT A SUBSCRIPTION PRICE OF 0.4374 SEK PER SHARE
    * SET-OFF ISSUE WILL RESULT IN DILUTION FOR EXISTING SHAREHOLDERS OF ABOUT 45.85%
    * WILL NEED ADDITIONAL FINANCING TO IMPLEMENT ACTIVITIES THAT ARE INCLUDED IN COMPANY'S
BUSINESS
PLAN IN FOLLOWING TWELVE MONTHS
    * FURTHER CAPITAL NEED IS ESTIMATED TO ABOUT 15-25 MLN SEK
    * TO EVALUATE ALTERNATIVES TO SECURE FINANCING SUCH AS A CAPITAL CONTRIBUTION OR LOAN
FINANCING
    * CALL AN EXTRAORDINARY GENERAL MEETING ON MAY 2, 2023
    * 

Source text for Eikon:  ID:nBQN98Jrhc 
Further company coverage:  EMPLI.ST 

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