Brief: Rightbridge Ventures Says Divests Its Portfolio Company Team Singularity For 1 Dkk

Rightbridge Ventures AB

24/11/2023 19:28

Nov 24 (Reuters) - Rightbridge Ventures Group AB
 RIGHTB.ST :
    * RIGHTBRIDGE VENTURES DIVESTS ITS PORTFOLIO COMPANY TEAM
SINGULARITY FOR 1 DKK AND SAVES 570,000 SEK IN SHORT-TERM
FINANCING.
    * SALE OF SNG RESULTS IN A GOODWILL IMPAIRMENT OF
APPROXIMATELY
18.7 MSEK AND A LOAN WRITE-DOWN OF 4 MSEK
    * RIGHTBRIDGE VENTURES - SNG HAS HAD SIGNIFICANT IMPACT ON
GROUP'S
FINANCIAL POSITION DURING FISCAL YEARS 2022,2023, WHICH WILL BE
REFLECTED IN GROUP'S FINANCIAL REPORTS FOR 2023
    * SALE WILL BE COMPLETED IN NOVEMBER, AND SNG WILL NOT BE
PART OF
CONSOLIDATED FINANCIAL REPORTS FROM DEC 2023
    * PURPOSE OF SALE OF SNG TO ATLE CAPITAL APS IS TO REDUCE
COMPANY'S EXPOSURE TO UNPROFITABLE MARKETS

Source text for Eikon:  ID:nWkrbRbxmP 
Further company coverage:  RIGHTB.ST 

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