Oceanteam - " Reports of Interest in Long Term Investment"

Earth
OTS 21.10.2018 kl 11:26 1253

Det ble etter stengetid på børsen meldt at bondholders ønsker å være langsiktige i Oceanteam som fjerner ekstremt stor risiko for dumping, dette bør teoretisk sett dytte prisen opp ganske mye fremover. Tror det er verdt å ta seg en liten posisjon her.

Kilde: https://newsweb.oslobors.no/message/461640

It is becoming apparent that there are bondholders who are interested in taking a long term investment view in the Company by converting their claim into equity. This would strengthen the balance sheet of the Company for the future and will position the Company more favourably in its ability to secure additional funding to grow as all the Group's legacy debt will have been removed from the balance sheet.

In addition to the Second Conversion and subject to it, Oceanteam has secured a new shareholder's loan of USD 1,500,000 which will leave the Group adequately funded on the short term. The additional capital of USD 1,500,000 will provide the Group with more flexibility in its daily operations, and allow it to focus on developing its core business and pursue business opportunities as they are presented..

The proposal
Based on the above, the board of directors proposes that the Outstanding Bonds of USD 5,086,518 and accrued interest is converted into equity in the Company by the issuance of new shares, each share having a par value of NOK 0.50, at a subscription price of USD 0.10 per share. Following the implementation of the Second Conversion, the Bond Loan will be repaid in its entirety.

Way forward
The Second Conversion is subject to bondholder and shareholder approval. A notice of a written bondholder resolution is expected to be issued in due course, and the shareholders of the Company will be summoned to an extraordinary general meeting to be held in November 2018. A majority of the bondholders have expressed support to the proposal, and discussions with all stakeholders will continue up to the extraordinary general meeting to ensur
Redigert 20.01.2021 kl 01:52 Du må logge inn for å svare