Brief: Valoe Says To Understanding Of Co, Amount Of Working Capital Is Not Sufficient For Conduct Of Its Business For Next 12 Months

Valoe Oyj

24/09/2019 20:08

Sept 24 (Reuters) - Valoe Oyj  VALOE.HE :
    * SAYS TO UNDERSTANDING OF CO, AMOUNT OF CO'S WORKING
CAPITAL IS
NOT SUFFICIENT FOR CONDUCT OF ITS BUSINESS FOR THE PERIOD OF
NEXT 12 MONTHS.
    * VALOE- PROSPECTUS OF VALOE REGARDING OFFERING OF 111.11
MILLION
NEW SHARES AND ADMISSION TO TRADING OF 3.7 MILLION NEW SHARES IN
COMPANY APPROVED
    * VALOE ESTIMATES TO MULTIPLY ITS TURNOVER IN FY 2020 AS
COMPARED
TO EUR 1.3 MILLION TURNOVER IN FINANCIAL PERIOD OF 2018
    * SAYS IN ORDER TO IMPROVE CASH ASSET SITUATION, CO
CURRENTLY HAS
FINANCING COMMITMENT OF MAXIMUM OF EUR 1 MILLION FROM WINANCE
INVESTMENT
    * COMPANY ESTIMATES CUMULATIVE CASH FLOW OF ITS OPERATIONS
IN
PERIOD OF NEXT 12 MONTHS TO BE APPROXIMATELY EUR 0.2 MILLION
POSITIVE
    * COMPANY ESTIMATES ITS CASH FLOW TO TURN POSITIVE DURING
FIRST
HALF-YEAR OF 2020
    * COMPANY CURRENTLY HAS A FINANCING COMMITMENT OF A MAXIMUM
OF EUR
1.00 MILLION FROM WINANCE INVESTMENT LLC
    * COMPANY ESTIMATES TO WITHDRAW FINANCING IN FULL IN NEXT 12
MONTHS.

Source text for Eikon:  ID:nGNE69WXBm 
Further company coverage:  VALOE.HE 

 ((Reuters.Briefs@thomsonreuters.com;))