Brief: Move About Group Renegotiates Loan Agreements, Initiates Process To Sell Its Swedish Subsidiary

Move About AB

06/09/2023 14:40

Sept 6 (Reuters) - Move About Group AB  MOVEA.ST :
    * HAS RENEGOTIATED LOAN AGREEMENTS AND INITIATED A PROCESS
TO SELL
ITS SWEDISH SUBSIDIARY
    * CO HAS ENTERED INTO AN ADDITIONAL AGREEMENT WITH FORMUE
NORD
FOKUS A/S REGARDING LOAN AGREEMENT OF SEK 13 MILLION ANNOUNCED
ON 20 DECEMBER 2022
    * SUPPLEMENTAL AGREEMENT ENTAILS CONDITIONAL RIGHT FOR
COMPANY TO
REPAY LOAN IN ITS ENTIRETY TO AMOUNT CORRESPONDING TO 50% OF
LOAN AMOUNT INCLUDING ACCRUED INTEREST
    * COMPANY HAS ALSO INITIATED THE PROCESS OF SELLING THE
SHARES IN
THE SWEDISH SUBSIDIARY MOVE ABOUT AB, OR ITS OPERATIONS (ASSETS)
    * HOWEVER, THERE ARE NO GUARANTEES THAT THE WORK OF THE
BOARD OF
DIRECTORS WILL LEAD TO THE CONCLUSION OF BINDING AGREEMENTS ON
SALE

Source text for Eikon:  ID:nBQN3GjGX3 
Further company coverage:  MOVEA.ST 

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