EcoRub prefrains ordering new tranches
The board meeting on Thursday 2019 01 31 decided that EcoRub shall not order more Tranches from Bracknor and EHGOSF.
Bracknor and European High Growth Opportunities Securitization Fund (”EHGOSF”) has the right to two more tranches each at the value of 5 MSEK each. The agreement with EHGOSF say that 10 MSEK shall fall out within 12 months from October 2018 of which 5 MSEK already has fallen out. The agreement with Bracknor reaches to October 2020. EcoRub´s board has per 2019 01 31 decided that the company by its own will shall not order more tranches.
EHGOSF has converted 26 of 50 notes into shares - 24 remains. Each Tranche (of 2,5 MSEK) consist of 25 notes on 100 KSEK. The number of shares these corresponts to depends on (93%) the price of shares when they are converted. Bracknor has converted all their notes.
The background to the decision is that the board apprise that the decline in the value of the shares is not linked to the activities and to the projects that the company is involved in. The decline is linked to these investment programs.
When and if next need for financeing occur the company will issue free warrants to all shareholders at price and terms decided at that time.
This information is such that EcoRub AB is required to make public in accordance with the EU’s market abuse regulation (MAR) and the Swedish Securities Market Act. The information was made available public by the Company’s contact person on February 01, 2019
Åke Paulsson
Vd
+46 70 66 34 174
EcoRub AB (publ):
EcoRub is a cleantech company. The company has a hybrid material TPRR - ThermoPlastic Recycled Rubber- which is patented. We mix thermoplast, rubber powder, copolymera and sometimes organic fibres as wood dust or straw to make a new material - ecological rubber - with unique performance. The properties are amoung other excellent weatherability, stress performance and the material can easily be recycled. The material is used for incjection moulding with equipment used in plastics industry. We can also process the material to sheets and mats.