Brief: Glaston Writes Off Balance Sheet Items Related To Heliotrope Partnership

Glaston Oyj Abp

30/11/2021 07:36

Nov 30 (Reuters) - Glaston Oyj Abp  GLA1V.HE :
    * WRITES OFF BALANCE SHEET ITEMS RELATED TO HELIOTROPE PARTNERSHIP, THE WRITE-OFF HAS NO
STRATEGIC
IMPORTANCE
    * PRODUCT DEVELOPMENT OF ACTUAL SMART GLASS TECHNOLOGYHAS BEEN DELAYED
    * HELIOTROPE TECHNOLOGIES HAS NOT BEEN ABLE TO RAISE NEEDED FUNDING IN RECENT FINANCING
NEGOTIATIONS TO FINALIZE PRODUCT DEVELOPMENT
    * TO WRITE OFF ALL BALANCE SHEET ITEMS RELATED TO HELIOTROPE, TOTALING APPROXIMATELY EUR 5.2
MILLION
    * EUR 0.8 MILLION IS COST IMPACTING OPERATING PROFIT AND RECORDED AS ITEMS AFFECTING
COMPARABILITY
    * WRITE-OFF HAS NO CASH FLOW EFFECT NOR IMPACT ON GLASTON'S OUTLOOK FOR 2021.

Source text for Eikon:  ID:nWkrb6sRkN 
Further company coverage:  GLA1V.HE 

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