!@#$!@! schreef op 28 oktober 2011 11:40:
SWEDISH AUTOMOBILE ENTERS INTO EUR 25 MILLION CONVERTIBLE BRIDGE LOAN
WITH GEMINI SECURING ADDITIONAL SHORT-TERM FUNDING AND PAYS EMPLOYEE’S
WAGES
Zeewolde, The Netherlands, 28 June, 2011 - Swedish Automobile N.V. (SWAN)
announces that it entered into a EUR 25 million convertible bridge loan agreement with
Gemini Investment Fund Limited (Gemini), thereby securing additional short-term
funding.
SWAN entered into a EUR 25 million convertible bridge loan agreement with Gemini with a 6
months maturity. The interest rate of the loan is 10% per annum and the conversion price is EUR
1.38 per share (the volume weighted average price over the past 10 trading days). SWAN may at
any time during the loan's term redeem it without penalty and it intends to do so once the funding
from Pang Da and Youngman is received, in which case no dilution as a result of this bridge loan
will occur.
Upon receipt of Gemini's EUR 25 million and upon reaching agreements with its suppliers on
payment terms, Saab Automobile hopes to complete its scheduled loan drawdown of EUR 29.1
million from the European Investment Bank (EIB).
As a result of this convertible bridge loan (EUR 25 million), the sale of the real estate (EUR 28
million) and the sale of cars to a Chinese buyer (EUR 13 million), Saab Automobile (conditionally)
secured EUR 66 million in additional funding this week. Assuming the receipt of these funds takes
place as scheduled, Saab Automobile expects to have secured the liquidity required to restart
production hopefully within 2 weeks, subject to reaching agreement with its suppliers which
includes feasible delivery schedules
- Ik kan hier niet uit opmaken dat de schuld bij swan of saab zit.