CYBER1 secures short-term liquidity Loan of €300,000
on favourable commercial terms
London United Kingdom – 28 May 2020 – Cyber Security 1 AB (Publ) (the “Company”) (“CYBER1”) (Nasdaq First North: CYB1) confirms that it has, on favourable commercial terms, secured a loan to provide operating capital for the continuing business operations of the Company whilst it undergoes a company restructure.
The loan to the Company is undertaken by existing shareholders who have agreed to fund the Company with €300,000 at an interest rate of 4% p.a.
The loan is to be repaid by the Company in full by the 31st December 2022 and will not carry any interest for the first year of the term and any accrued interest thereafter is required to be paid only on the date of the final repayment of the loan.
The loan will constitute generally preferred rights (Sw. allmän förmånsrätt enligt 10 § 4 p. förmånsrättslagen) and by law rank in priority ahead of the unsecured and non-preferential obligations (15 § förmånsrättslagen) of the Company.
Lawyer David Rutegard, Law Firm Carler, the Administrator of the reconstruction proceedings, has approved the taking on of this loan by the Company.
This information is information that CYBER1 is obliged to make public, pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on 28 May 2020 at 17:15 CET.
Certified Adviser
Mangold Fondkommission AB is the Company’s Certified Adviser.
Telephone: +46 (0)8 5030 1550 E-mail: info@mangold.se
FOR FURTHER INFORMATION, PLEASE CONTACT:
Investor Relations Contact:
Tim Metcalfe / Zach Cohen
CYBER1 Email: cyber1@investor-focus.co.uk
ABOUT CYBER1
CYBER1 is engaged in providing cyber resilience solutions and conducts its operations through physical presences in UK, Sweden, Kenya, South Africa, United Arab Emirates and the United States. Listed on Nasdaq First North Growth Market (Nasdaq: CYB1.ST) and as an American Depositary Receipt (OTCQX: CYBNY), the Group delivers services and technology licenses to enhance clients’ protections against unwanted intrusions, to provide and enhance cyber resilience and to prevent various forms of information theft. CYBER1 had revenues of 68.73m EUR in 2019. For further information, please visit www.cyber1.com/investors.
For further information please visit: www.cyber1.com
For all company filings and reports, please visit: https://cyber1.com/cyber1-investor-information/
Source(s) : Cyber Security 1 AB
