Comments on the notice to the extraordinary general Meeting of QuickCool AB
QuickCool and EHGO comment on the notice to the EGM
QuickCool and the European High Growth Opportunities Securitization Fund (EHGO) presented a financing solution in a press release on 21 June 2018. Both parties cooperate to maintain a long-term and well-functioning financing solution.
Chairman of the QuickCool Board, Göran Brorsson, comments: "The delays in our development work are disappointing for all of us. Unfortunately, this has meant that confidence and the evaluation of the company have been affected. Now that we are in the final stages of development and the final third-party approvals remain, it is important that we continue to be able to fund the activities rationally. Today's low share value means that the difference between the buying and selling price of the share is too often unacceptably high, which is not in favour of our shareholders and those who wish to trade in the company's share. This creates unnecessary uncertainty. To improve the situation, the board of Directors now proposes a reverse share split so that today's 10 shares will become one share. This does not affect the company's value but is expected to provide more stable buying and selling prices and thus also improve the interest in the company's share."
Hugo Pingray, founder and COO, Alpha Blue Ocean Advisors, and advisor to EHGO, says: "As a partner in the QuickCool financing programme, it is a good initiative from the board to propose these measures to support a more effective trading of the company's share. We will, as has already been confirmed earlier, continue to support the development and financing of the QuickCool®SYSTEM."
For additional information, please contact:
Fredrik Radencrantz, CEO
Phone: +46-46-286 38 40
Quickcool is a Swedish medical technology company, whose business concept is to save lives and prevent brain damage in acute ischemia (Inadequate blood supply to the brain) by developing and providing a unique and globally patented cooling system, the Quickcool SYSTEM. Quickcool is active in the fast-growing market, Targeted Temperature Management (TTM), for brain-protective cooling treatment of patients with e.g. acute cardiac arrest and stroke. QuickCool’s solution protects the brain by cooling in the nasal cavity and thus takes advantage of the innate heat exchanger in the nose. QuickCool’s Intranasal method offers gentle and uninterrupted cooling treatment for sedated patients. Quickcool is listed on Spotlight Stock Market and conducts its business at Ideon Science Park in Lund. For more Information, please refer to www.quickcool.se