HIDDN – Further update recapitalisation
(Oslo, July 11th 2019): Reference is made to previous announcements made by Hiddn Solutions ASA (the “Company”) regarding its financial situation and restructuring efforts, including announcement July 3rd 2019 at 15:12 CEST).
As announced, the Company is insolvent. Notwithstanding this situation, the board considers that there are grounds to continue a process, safeguarding creditor interests, whereby it explores possibilities for the Company, which could also be in the shareholders’ interests. The board is still continuing discussions with third parties and will further consider arrangements or actions that could be of interest to the Company.
Unless the board is successful in these efforts, the board’s opinion is that there is no shareholder value in the Company. The board has set a new preliminary deadline of 18.7.2019 at 21.00 CEST for this continued process.
For further information, please contact:
Øystein Tvenge, Chairman of Hiddn
Telephone: + 47 908 70 000