Information about RNB's continued process of reviewing the company's future
As informed in RNB Retail and Brands AB (the “Company")'s most recent quarterly reports, the company is reviewing the possibilities of continuing as an independent listed company.
This work examines several different alternatives, including acquiring complementary operations by issuing new shares or selling existing operations and acquiring new operations. The company is also investigating the possibility of carrying out a directed issue to shareholders in connection with these alternatives in order to raise new capital.
However, all alternatives that enable the company's continued operations require a settlement with the company's bond and hybrid bondholders. This is because the company currently lacks the financial ability to pay interest in full and amortize on nominal bond debt. One solution that the company sees as feasible is that all or part of the bond is converted into new shares. This would probably mean that the bondholders become the largest owner group.
RNB's goal is to be able to announce and inform during the second half of 2021 about a solution for the company's continued future operations.
For further information, please contact:
Kristian Lustin, CEO, Phone +46 8 410 520 00, e-mail: kristian.lustin@retailandbrands.se
The information was submitted for publication, through the agency of the contact person set out above, at 17.30 (CEST) on 3 August 2021.
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RNB RETAIL AND BRANDS owns, operates and develops stores and e-commerce in fashion, clothing and accessories. The focus is on providing a service and shopping experience beyond the ordinary. Sales are conducted through the Brothers concept. Brothers is a nationwide men’s fashion chain with 44 stores including an e-commerce. Brothers is the obvious destination for updated, relaxed and well-dressed fashion in affordable quality with a superb fit for all men in all situations. RNB RETAIL AND BRANDS is listed on Nasdaq Stockholm (RNBS). www.rnb.se