Brief: Nelly Group Resolves On Rights Issue Of About SEK 50 Mln
03/02/2023 06:52
Feb 3 (Reuters) - Nelly Group AB (publ) NELLY.ST :
* NELLY RESOLVES ON A FULLY SECURED RIGHTS ISSUE OF
APPROXIMATELY
SEK 50 MILLION
* COMPLETE TERMS AND CONDITIONS OF THE RIGHTS ISSUE,
INCLUDING THE
SUBSCRIPTION PRICE AND THE NUMBER OF NEW ORDINARY SHARES, WILL
BE DETERMINED BY THE BOARD AND ANNOUNCED NO LATER THAN 10 MARCH
2023
* RIGHTS ISSUE IS CARRIED OUT FOR THE PURPOSE OF SECURING
LIQUIDITY AND TO ENABLE NELLY TO CONTINUE THE IMPLEMENTATION OF
ITS STRATEGY FOR PROFITABILITY
* NELLY ALSO INTENDS TO IMPLEMENT OPERATIONAL COST
REDUCTIONS OF
ABOUT SEK 20 MILLION (EXCLUDING OVERHEAD COSTS) IN ADDITION TO
THE COST REDUCTION PROGRAMME OF ABOUT SEK 40-50 MILLION
ANNOUNCED IN AUGUST 2022
* SUBSCRIPTION PERIOD FOR RIGHTS ISSUE IS EXPECTED TO RUN
FROM AND
INCLUDING 23 MARCH 2023 UP TO AND INCLUDING 6 APRIL 2023
Further company coverage: NELLY.ST
(Gdansk Newsroom)
((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))