Move About refinances existing loans of SEK 13 million
Move About Group AB ("Move About" or the "Company") has agreed with Formue Nord Fokus A/S of a refinancing of existing loans of SEK 13 million (the "Loan"). Part of the outstanding loan of SEK 17 million, excluding accrued interest, which was procured on July 22, 2022, shall be repaid with the proceeds from the rights issue proposed by a group of shareholders in the Company which was published via press release today, December 20, 2022. Thereby, the remaining part of the outstanding loan to Formue Nord Fokus A/S of SEK 13 million will be refinanced.
The Company has refinanced SEK 13 million of the SEK 17 million loan, excluding accrued interest, which was procured on July 22, 2022 from Formue Nord Fokus A/S. The Loan was agreed upon today, December 20, 2022. In total, approximately SEK 5.8 million will be repaid, of which SEK 4 million is amortization and approximately SEK 1.8 million is accrued interest to the lender. Repayment is intended to be made with issue proceeds from the rights issue proposed by a group of shareholders in the Company, which was published via press release today, December 20, 2022. The new Loan is procured at market terms of 0.8 percent monthly interest per started 30-day period and matures on December 20, 2024. A part of the eventual proceeds from the exercise of warrants of series TO2, which are included in the proposal from the shareholders regarding a rights issue, shall be used to repay the Loan. If the Loan has not been repaid by December 20, 2024 at the latest, the lender has the right to set-off the Loan against shares at market terms. There is no related connection between the lender and the Company.
Mangold Fondkommission AB is financial adviser and Eversheds Sutherland Advokatbyrå AB is legal adviser to Move About Group AB in connection with the transaction.
For further information, please contact:
Olof Jonasson, CEO, Move About Group AB
This information is information that Move About Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 20:26 (CEST) on December 20, 2022.
The Company's Certified Adviser is Mangold Fondkommission AB.
About 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 kilometre that the user travels with the electric cars via the platform means reduced CO2 emissions. The Company's comprehensive mobility solutions are based on the Move About app, which gives the user access to the Company's 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 has over 70,000 users on its platform and over 800 electric cars in its 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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