Correction of date: Move About Group refinances existing loans
CORRECTION OF DATE IN PREVIOUS PRESS RELEASE.
Move About Group AB (publ.) (the "Company") has agreed with Formue Nord Fokus A/S (FN) for a refinancing of existing loans of SEK 9 million for a total loan financing of SEK 17 million (the "Loan") and an additional SEK 2 million by a group of major shareholders in the company, Rebelijo, Vindeggen, T.K Eiendom and RAC Group AS . The loan will be used to secure working capital for the Companys continued expansion plan in 2022 and to refinance SEK 9.0 million of the existing loan raised on 8 March 2022 from Formue Nord.
The agreement for the Loan was entered into today, July 22, 2022 and runs until December 31, 2022. The loan has a monthly interest rate of 1.5 per cent plus a setup fee of 6 per cent for the part of the loan relating to Formue Nord.
The refinancing of the loan is an important step in the companys plan to reach cash-breakeven by the end of the year together with the planned subscription right this fall (T01).
The loan will be paid out in full in July 2022. Overall, the Board of Directors has made the assessment that the terms of the Loan are in terms of market conditions.
Mangold Fondkommission is acting as financial advisor in connection with the transaction.
This information is information that Move About Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU No 596/2014). The information was submitted for publication, through the agency of the contact person, at 22 July 2022. 12.00 CEST.
The companys shares are traded under the ticker symbol MOV on the Nasdag Firsth North marketplace.
The companys Certified Adviser is Mangold Fondkommission AB, which can be reached at telephone number08-5030 1550 and by e-mail [email protected].
For further information, please contact:
Olof Jonasson, acting CEO of Move About Group AB (publ.)
Move About Group AB
Move About offers app-based, environmentally friendly and cost-effective mobility solutions to individuals, companies, municipalities and organizations. The company has developed and owns all intellectual property rights to the cloud-based green tech platform that provides digital access to electric cars, electric bicycles, taxis, subway and parking, all through the same app - around the clock. Every kilometer that the user travels with the electric cars via the platform, CO2 reduces emissions.
The Companys comprehensive mobility solutions are based on the Move About app, which gives the user access to the Companys pools of electric cars, bicycles and scooters. Move About also helps companies, municipalities and organizations optimize their fleets by tailoring mobility solutions to their needs.
Move About was founded in Oslo, Norway, in 2007 and today has over5,8,500 users on its platform and over 8,30 electric cars in the companys vehicle fleet with a presence in Sweden, Norway and Germany.
Om Move About
Move About är ledande inom hållbara mobilitetstjänster. Vi erbjuder bilpooler med elbilar, elcyklar och elsparkcyklar till våra medlemmar. Vi hjälper också företag att optimera sin fordonsflotta samt levererar en komplett tjänst med bokningssystem, kundservice och fordonshantering. Noll utsläpp. Helt enkelt.
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