Brief: Promore Pharma Starts Voluntary Liquidation

PMD Device Solutions AB

12/10/2023 06:48

Oct 12 (Reuters) - Promore Pharma AB  PROMO.ST :
    * PROMORE PHARMA INITIATES VOLUNTARY LIQUIDATION
    * BOARD ASSESSES THAT COMPANY'S CASH IS SUFFICIENT UNTIL
MID-DECEMBER 2023
    * BOARD HAS, TOGETHER WITH EXTERNAL ADVISORS, EXPLORED
SEVERAL
FINANCING OPTIONS AS WELL AS OPPORTUNITIES FOR VARIOUS FORMS OF
STRATEGIC TRANSACTIONS
    * NEGOTIATIONS REGARDING POSSIBLE STRUCTURAL TRANSACTIONS
ARE
ONGOING AND TWO LETTERS OF INTENT HAVE BEEN SIGNED REGARDING
CONCRETE BUSINESS PROPOSALS, BUT NO BINDING AGREEMENTS HAVE BEEN
SIGNED
    * BOARD THEREFORE CONSIDERS THAT THERE IS CURRENTLY NO
ACCEPTABLE
ALTERNATIVE TO A DECISION ON VOLUNTARY LIQUIDATION, IN ORDER TO
AVOID A BANKRUPTCY SITUATION IN EVENT THAT A STRUCTURAL
TRANSACTION COULD NOT BE IMPLEMENTED

Source text for Eikon:  ID:nMFNPpbrB 
Further company coverage:  PROMO.ST 

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