Brief: OT Logistics Signs Agreement With Its Majority Shareholder On Co's Recapitalization

OT Logistics SA

24/02/2020 09:10

Feb 24 (Reuters) - OT Logistics SA  OTSL.WA :
    * SAID ON FRIDAY THAT COMPANY SIGNED AN AGREEMENT WITH ITS
MAJORITY SHAREHOLDER I FUNDUSZ MISTRAL REGARDING COMPANY'S
CONDITIONAL RECAPITALIZATION 
    * SHAREHOLDER COMMITTED TO PROVIDE RECAPITALIZATION VIA
SUBSCRIPTION OF 1.5 MILLION OF E SERIES SHARES IN THE COMPANY'S
INCREASED CAPITAL OR VIA GRANTING AN UNSECURED SUBORDINATE LOAN 
    * UNSECURED SUBORDINATE LOAN WOULD AMOUNT TO 9.0 MILLION
ZLOTYS
    * RECAPITALIZATION CAN ALSO BE COMPLETED BY PAYING OUT THE
DIFFERENCE BETWEEN AMOUNT REPRESENTING THE VALUE OF SHARES
SUBSCRIBED FOR BY THE SHAREHOLDER AND THE SUM OF 9.0 MILLION
ZLOTYS
    * TOTAL AMOUNT OF RECAPITALIZATION WILL NOT BE LOWER THAN
9.0
MILLION ZLOTYS
    * PLANNED TRANSACTION IS ONE OF THE STAGES OF IMPLEMENTING A
RECOVERY PLAN FOR THE CAPITAL GROUP AND IT WILL HELP TO IMPROVE
ITS FINANCIAL LIQUIDITY

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nEMHfkvDa
    
 Further company coverage:  OTSL.WA  
   


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