The board of directors of
The board of directors of
Execution of the Set-Off Issue is conditional upon the board of directors of the Company being authorised by shareholders to carry it out. The Company will therefore convene an extraordinary general meeting to be held on Friday
As this transaction involves a related party (the CEO, see further below), a valid resolution at the EGM requires that the proposal be supported by at least nine-tenths (9/10) of the votes cast and shares represented at the EGM.
The reason for the deviation from the shareholders' preferential rights is to strengthen the balance sheet in a time and cost-efficient manner in order to enable continued expansion and investments at a critical junction of the company's development. The board of directors' assessment is that the subscription price of the Set-Off Issue conforms to current market conditions and that this proposal will be less dilutive to existing shareholders (who may not have the means or the desire to inject more cash into the company) than the most natural alternative - a rights issue - which would likely result in substantial transaction costs to the detriment of all existing shareholders.
If the resolution is passed and the proposed transaction is completed, then the number of outstanding shares and the share capital in
Any surplus capital (above the quota value) shall be added to the free premium fund of unrestricted equity (known as `fritt eget kapital' in Swedish).
Per Lindberg, the CEO and sole creditor to the company, has not participated in the decision by the board of directors in arriving at making this proposal.
Should the proposed transaction be carried out, then (i) the unutilised part of the credit line (up to
The board of directors.
This disclosure contains information that
For further information, please contact:
Per Lindberg, CEO
Tel: +46 79 340 7592
per.lindberg@ranplanwireless.com
www.ranplanwireless.com
Certified Adviser
+46(0)8-528 00 399
info@fnca.se
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