Brief: Fingerprint Cards Issues SEK 75 Mln In Hybrid Equity
30/09/2022 06:30
Sept 30 (Reuters) - Fingerprint Cards AB FINGb.ST :
* FINGERPRINT CARDS AB (PUBL) ISSUES SEK 75M IN HYBRID
EQUITY AND
INTENDS TO CARRY OUT A SEK 300M FULLY SECURED RIGHTS ISSUE TO
IMPROVE ITS CASH POSITION AND CURE A FORECASTED BREACH AGAINST A
BOND COVENANT AND PUBLISHES FINANCIAL INFORMATION
* INTENDS TO CARRY OUT A FULLY SECURED RIGHTS ISSUE,
AMOUNTING TO
APPROXIMATELY SEK 300 MILLION, DURING Q4 2022
* FINGERPRINT CARDS AB - COMPANY HAS RECEIVED SUBSCRIPTION
COMMITMENTS AND UNDERWRITING COMMITMENTS COVERING RIGHTS ISSUE
IN FULL
* COST REDUCTION PROGRAM IS EXPECTED TO REDUCE OPERATING
COSTS BY
APPROXIMATELY 20% AND IS EXPECTED TO HAVE FULL EFFECT DURING Q4
2022
* IS IT EXPECTED THAT COVID-19 RESTRICTIONS IN CHINA WILL
CONTINUE
TO HAVE A NEGATIVE EFFECT ON SALES AND GROSS MARGIN ALSO FOR Q3
AND Q4 2022, AS WELL AS FOR Q1 2023
Source text for Eikon: ID:nGNE8VqgrD
Further company coverage: FINGb.ST
(Gdansk Newsroom)
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