Brief: Kernel Holding To Begin ABB To Raise Up To $60 Mln

Kernel Holding SA

22/08/2023 06:52

Aug 22 (Reuters) - Kernel Holding SA  KER.UAX :
    * TO BEGIN ABB TO RAISE CAPITAL
    * CO WILL OFFER NOT LESS THAN 1 AND NOT MORE THAN
216,000,000
OFFER SHARES TO BE SUBSCRIBED FOR UNDER ABB
    * CO IS TARGETING TO RAISE UP TO $60 MILLION TO SATISFY
REQUIREMENT OF ONGOING NEGOTIATIONS WITH POOL OF COMPANY
CREDITORS AND ADDRESS CAPITAL NEED OF COMPANY
    * THIS IS IN RELATION TO TERMINATION OF GRAIN DEAL ON JULY
18 AND
SEVERE DAMAGE OF COMPANY GRAIN HANDLING AND TRANSSHIPMENT
INFRASTRUCTURE BY RUSSIAN MISSILE ATTACKS THEREAFTER
    * THE BOARD OF DIRECTORS HAS THE RIGHT TO CANCEL THE 
OFFERING AT
ITS SOLE DISCRETION IF A THRESHOLD OF $50 MILLION OF FUNDS
RAISED IS NOT REACHED
    * COMPANY WILL ALLOCATE OFFER SHARES TO NEW SHAREHOLDERS ON
OR
ABOUT SEPT 4
    * SEPT 1 WILL BE SUBSCRIPTION CLOSING DATE

Source text for Eikon:  ID:nEM7WywBPa 
Further company coverage:  KER.UAX 

 (Reporting by Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com;))