NattoPharma : Financial status
As per October 10th 2011 NattoPharma has summoned an extraordinary general meeting to increase the company's share capital with NOK 15 million to NOK 20 million. The objective is to strenghten the company's working capital and to rectify our equity. The extraordinary general meeting will take place on October 31st 2011. The share issue period is expected to end approx. mid December 2011 and the new funds will be available for the company about a week later according to our facillitator and merchant banker Fondsfinans AS.
In the mean time, the company has pursued alternative short term financing. We have asked our bank DnBNOR Bank ASA to provide us with a bridge-loan based on certain requirements as to security for the financing. The company together with Fondsfinans are now in the process of fullfilling theses requirements and we expect this to be finalised during week 42/43. Untill the bridge-loan has been established the company is not in a position to fulfill all of its financial obligations.
For more information, please contact
Erik Tjørstad
CFO
Phone no. +47 91 63 63 95 / +47 67 20 02 60