Enedo Plc and Inission Ab increase the bridge loan amount to EUR 2 million
08 Diciembre 2021 - 11:00AM
Enedo Plc and Inission Ab increase the bridge loan amount to EUR 2
million
Enedo Plc Stock Exchange Release December 8, 2021 at 19:00
EET
Enedo Plc and
Inission Ab increase the bridge loan
amount to EUR 2 million
In Enedo Plc´s Stock Exchange Release on November 26, 2021,
Enedo Plc commented that it has signed a short-term bridge loan
agreement with Inission Ab for a minimum amount of EUR 1 million,
since it has been under cash constraint and in need for
strengthening the liquidity and the financial position, and to
finalize its turnaround program. Enedo Plc also commented that the
bridge loan amount can be increased up to EUR 2 million upon
separate agreement by the parties and that the bridge loan becomes
due upon first drawdown under the longer plan loan arrangement
under negotiation, however on 31 December 2021 at the latest.
Furthermore, in Enedo Plc´s Stock Exchange Release on December
2, 2021, Enedo Plc gave an update on its difficult financial
situation and commented that it has received a positive conditional
credit decision on EUR 5 million loan arrangement from a financial
institution. Enedo Plc also commented that the execution of the
loan arrangement is conditional on, among other things, Inission Ab
providing a guarantee for the total outstanding loan amount and
Enedo Plc’s Extraordinary General Meeting authorizing the Board of
Directors to decide on a directed share issue to Inission Ab, which
can only take place if Inission Ab becomes liable for the loan
based on the guarantee. The Extraordinary General Meeting has been
convened to be held on December 23, 2021.
Enedo Plc and Inission Ab have agreed today to increase the
bridge loan amount to EUR 2 million, which is the maximum loan
amount under the bridge loan agreement.
ENEDO PLC
Mikael Fryklund
President and CEO
For further information please contact Mr. Mikael Fryklund, CEO,
tel. +358 40 500 6864.
DISTRIBUTION
Nasdaq Helsinki LtdPrincipal media
Enedo
Enedo is a European designer and producer of high-quality
electronic power supplies and systems for critical equipment even
in the most demanding environments. Enedo´s mission is to make
electricity better – more reliable, more secure, more energy
efficient – and just right to fit its purpose. Enedo´s three main
product categories are Led Drivers, Power supplies and Power
Systems. In 2020 the group´s revenue was EUR 38,5 million. Enedo
has 354 employees, and its main functions are located in Finland,
Italy, Tunisia and USA. The group´s head office is in Finland and
parent company Enedo Oyj is listed on Nasdaq Helsinki Oy.
www.enedopower.com
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