“The plan proposes the repayment of 4.1 million euros of liabilities over a 9 year period without interest. Of this, 3.3 million euros is exigible and 0.8 million euros is conditional upon certain events. The plan allows Mandrakesoft to repay its liabilities from revenues without raising additional capital. The Court will rule on the plan in the coming weeks.”Continued:
Additionally, the company has received to date subscriptions for an additional 358,000 shares at a price of 2.10? per share via warrants issued to existing shareholders in May 2002 and expiring on April 15, 2004. The subscriptions are conditional on the acceptance of the “redressement judiciaire” exit plan. Pending the acceptance of the plan, the funds are being held in an escrow account. This will further strengthen the capital base of the company.
Based on this information, the company has asked Euronext to re-list its stock on the Marché Libre. Trading will resume with the 14:00 GMT fixing on Monday, March 8, 2004.
Link: mandrakesoft.com
Category:
- Linux
