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BRIEF-Seamless says to implement a private placement in its mobile payments business SEQR
November 3, 2015 / 7:01 AM / 2 years ago

BRIEF-Seamless says to implement a private placement in its mobile payments business SEQR

Nov 3 (Reuters) - Seamless Distribution AB

* Says is planning to implement a private placement in its subsidiary SEQR, the daughter company which holds the SEQR mobile payment business

* Says has given a mandate to its advisors to obtain investors directly in its SEQR division, in order to reduce dilution for seamless parent company shareholders while providing sufficient funding to drive growth of SEQR.

* Seamless intends to bring in investors to SEQR

* Says proposed transaction structure would create a beneficial situation for Seamless shareholders with an exposure to a cash flow positive and profitable company combined with a non-consolidated substantial ownership of SEQR

* Says when financing is raised in SEQR division, current shareholders of Seamless will not be diluted in their ownership of other profitable Seamless group companies, transaction switch and distribution divisions Source text for Eikon: Further company coverage: (Stockholm Newsroom)

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