Brief: GO Internet FY Net Loss Widens To EUR 3.2 Mln, Issues Business Plan

GO internet SpA

09/06/2020 09:37

June 9 (Reuters) - GO Internet SpA  GO.MI :
    * REPORTED ON MONDAY FY NET LOSS EUR 3.2 MLN VS LOSS EUR 1.2
MLN
YEAR AGO
    * FY REVENUE EUR 5.8 MLN VS EUR 6.6 MLN YEAR AGO
    * ISSUES NEW BUSINESS PLAN 
    * PLAN AIMS AT INCREASING MARGINS AND REDUCING FINANCIAL BY
CUTTING COSTS
    * AS PART OF INTERVENTIONS FOR LAUNCH OF PLAN, COMPANY SIGNS
FRAMEWORK AGREEMENT WITH LINKEM 
    * AGREEMENT CONCERN LEASE TO LINKEM OF GO INTERNET
FREQUENCIES IN
REGIONS OF EMILIA ROMAGNA AND MARCHE WITH OPTION TO BUY THEM
    * LINKEM WILL MANAGE RADIO FREQUENCIES UNDER DEAL WITH
COMMITMENT
TO MODERNIZE SERVICES THROUGH ITS INFRASTRUCTURE
    * GO INTERNET WILL HAVE ACCESS TO FIXED WIRELESS ACCESS
(FWA)
SERVICES IN ALL OF ITALY
    * BOARD APPROVES INVESTMENT AGREEMENT WITH ATLAS SPECIAL
OPPORTUNITIES AND ATLAS CAPITAL MARKETS FOR ISSUE OF CONVERTIBLE
BONDS UP TO EUR 8 MLN
    * INVESTMENT AGREEMENT INCLUDES ISSUE OF WARRANTS WHICH
GRANT
RIGHT TO SUBSCRIBE TO ADDITIONAL SHARES FOR EUR 2.4 MLN
    * STARTS SCOUTING ACTIVITIES AIMED AT GROWTH THROUGH M&A
    * PROPOSES CAPITAL INCREASE IN KIND OF EUR 0.5 MLN WITHOUT
RIGHTS
ISSUE



    
 Source text for Eikon:  urn:newsml:reuters.com:*:nBIA3bYTR9
    
 Further company coverage:  GO.MI