Seamless Distribution says shareholders with 30% subscribe to rights issue

Thursday 7 December 2017 | 13:15 CET | News

Seamless Distribution said that its three largest shareholders, representing nearly 30 percent of its share capital, have confirmed their subscriptions for the maximum permitted number of rights in its current rights issue. Capital raised from the rights issue will primarily be directed to funding expanded production and sales capacity at MeaWallet, but also to profitable expansions at eProducts. It will be used to fund the company’s B2C exit costs, too.

The rights issue aims to raise up to SEK 100 million and the subscription period ends on 14 December. The issue was approved at its recent extraordinary general meeting (EGM), where shareholders also voted in favour of a motion to change the company name to Invuo Technologies.

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