Insplorion prolongs the maturity period and the period for conversion into shares of the convertible debentures in series KV1 2018/2019
On 24 January 2019 the board of directors of Insplorion resolved to prolong the maturity period and the period for conversion into shares of convertible debentures of series KV1 2018/2019 by amendments to the terms and conditions of the convertible debentures. The holder of the convertible debentures has approved the amendments.
On 24 January 2019, the board of directors resolved to amend the conditions of the convertible debentures regarding that the loan is due for payment on the 15-month anniversary of the date of registration at the Swedish Companies Registration Office of the resolution, instead of the 12-month anniversary. The registration took place at the Swedish Companies Registration office February 5 2018. Also, the convertible debentures may be converted into shares during the period commencing on the date of registration at the Swedish Companies Registration Office of the resolution regarding the issue up to and including the date falling 15 months thereafter. The maturity period and the period for conversion into shares are consequently prolonged with three (3) months.
“We have and have had high activity in our projects with several achievements thanks to the finance agreement with ESGO. We are at the end of the tranche with 13 of 100 convertibles remaining. The extended maturity let us avoid a cash redemption or the risk of too large conversions. ESGO has been fully supportive with this solution which is efficient for Insplorion and of benefit to our shareholders”, comments Patrik Dahlqvist, CEO at Insplorion.
Questions are answered by:
Patrik Dahlqvist, CEO Insplorion AB, +46 723 62 32 61 or email@example.com