Enviro Boosts Capital

Enviro

Scandinavian Enviro Systems AB (publ) has strengthened its financial position via a directed issue to Unwrap Finance AB. The share issue amount is around MSEK 21.0 before transaction costs. The added capital will be used to strengthen the working capital of the company until the board has evaluated various alternatives to secure the company's long-term capital needs.

Enviro Strengthens Financial Position

The board has, with support of the authorisation given by the General Meeting, decided to conduct a directed issue of SEK 20,950,261, before transaction costs, and 10,000,000 shares. The subscription rate per issued share is SEK 2.095. The number of shares in the Company will be 590,826,115 after the directed issue and the share capital will increase with SEK 400,000 and will be in total SEK 23,633,045. The dilution after the directed issue will be around 2 per cent. The directed share issue is conducted according to the stipulated market conditions. Unwrap Finance AB is a financial player that provides financing solutions for smaller, listed companies.

The added capital secures the company's financing until the board has analysed the capital requirement and evaluated various alternatives to secure the company's long-term capital needs. As previously communicated, the company is holding dialogues with various players in the capital market about potential alternatives for financing the expansion plan presented by the company.

About the author

Ewan has been editor of Retreading Business since 2006 and of Tyre & Rubber Recycling since the magazine was founded. During this period he has become an expert on the global tyre recycling sector. He has many years' experience as an automotive journalist including a period at Tyres & Accessories.

Email: ewan.scott@tyreandrubberrecycling.com

 

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