OmniCar Holding AB updates on write-down of value of shares in Omnicarservice ApS
OmniCar Holding AB (“OmniCar” or the “Company”) announced on February 21, 2024, that the board of directors of the Company had prepared a balance sheet for liquidation purposes showing that the shareholders’ equity was less than half of the registered share capital, which gives rise to an obligation to undertake certain procedures under the Swedish Companies Act (as described in the announcement). To remedy the situation, the board of directors has proposed that the share capital of the Company is reduced with SEK 24,946,691.35, from SEK 25,455,807.50 to SEK 509,116.15.
The reason for the decreased shareholders’ equity is that OmniCar, in line with previous years’ practice, has written down the value of the shares in Omnicarservice ApS, with an amount equal to contributions made by OmniCar to Omnicarservice ApS during 2023, resulting in that the Company’s shareholders’ equity totaled SEK 4,194,303 as per 31 December 2023. From a group consolidated perspective, the capital contribution by OmniCar to Omnicarservice ApS does not impact the group’s financial position. OmniCar’s years-end report for 2023 is currently being prepared and is expected to be announced on Wednesday, February 28, 2024.
As previously communicated, the shareholders’ equity is expected to exceed the registered share capital if the board’s proposal to reduce the share capital to SEK 509,116.15 is approved.
OmniCar is continuously confident that its current strategic initiatives will lead to a favorable development during 2024 and will describe the positives developments more in details in the coming year-end report.
For more information, please contact
Mikkel K. Christensen
Chief Executive Officer
OmniCar Holding AB
mkc@omnicarservice.dk
About OmniCar Holding AB
OmniCar Holding AB (OmniCar) is a Danish purpose-driven impact company active in the automotive industry. OmniCar provides a convenient, affordable, and more transparent way of getting your car serviced and repaired by offering the service though our mobile workshops at a time- and place, which suits you the best.
OmniCar is a data driven technology company facilitating an end-to-end platform, which offers customers a unique way of ordering their next service as well as managing our fleet of mobile workshops including mechanics. We have established a position as the largest mobile workshop operator within the Nordics and with outstanding customer ratings of 4,9 of 5. With thousands of positive customer visits already completed, OmniCar aims to grow its business and fulfill its vision of becoming a convenient car partner for customers throughout Europe.