Changes to Seamless bond terms have come into effect, along with a new date for the Q3 report.
The changes to the terms of Seamless Distribution Systems AB's (publ) ("SDS") bonds, which were previously approved by bondholders (see press release on September 25, 2024), came into effect yesterday, October 16, 2024, after bondholders voted in favor of these changes and the company raised SEK 25 million in additional equity capital. 77% of the bond capital participated in the vote, with 99% voting in favor of the changes. The complete bond terms, as amended, are available on the SDS website.
"I am very grateful for the support we have received from the bondholders and shareholders. The reduction of the bond interest rate to a fixed rate of 9%, down from the 12.8% we have paid in recent quarters, will make a significant difference for the company. The extension of the bond loan to the end of 2027, along with the additional SEK 25 million in equity capital, gives us the room we need to continue our transformation towards profitable and cash-generating growth in a way that benefits both shareholders and bondholders," says Eddy Cojulun, CEO of SDS.
Due to the increased administrative workload from the creation of new bond terms and the new share issue, Seamless will postpone its Q3 report from Thursday, October 24, to Thursday, October 31.
For more information contact:
Martin Schedin
Chief Financial Officer
+46 70 438 14 42
[email protected]
ABOUT SDS
SDS is a Swedish international software company that specializes in mobile payment services for mobile operators, distributors, retailers, and consumers. SDS ensures that Telecom operators can sell their telephone subscriptions, where SDS products and services handle up to 90% of the Telecom operator's sales. Today, SDS have implemented solutions in fintech, advanced analysis and retail value management, and where these solutions have succeeded, they are transformed into so-called SaaS solutions.
SDS has approximately 267 employees in Sweden, France, Belgium, Romania, South Africa, Ghana, Nigeria, Ivory Coast, United Arab Emirates, Pakistan, India, and Indonesia. SDS annually handles more than 15 billion transactions worth over USD 14 billion. Via over 3 million monthly active resellers of digital products, more than 1100 million consumers are served globally.
SDS share is listed on Nordic SME at the Nordic Growth Market
Om Seamless Distribution Systems
SDS är ett svenskt mjukvarubolag med lösningar för elektronisk distribution av tjänster till privatkonsumenter via mobiloperatörer i tillväxtländer. Bolaget erbjuder sina företagskunder en helhetslösning för digitala konto och transaktioner. Bolaget har kunder i alla världsdelar som når över 300 miljoner mobilanvändare via fler än 700 000 aktiva återförsäljare. SDS har cirka 130 medarbetare i Sverige, Belgien, Ghana, Nigeria, USA, Pakistan, Indien, Ecuador och Förenade Arabemiraten.
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