April 27, 2020 / 12:06 PM / 2 months ago

BRIEF-CO.DON Delays Publication Of Financial Statements, Plans Capital Increase

April 27 (Reuters) - CO.DON AG:

* DELAYED PUBLICATION OF FINANCIAL STATEMENTS, AGREEMENT ON PROVISION OF ADDITIONAL LIQUIDITY, PLANNED CAPITAL INCREASE

* MODIFYING ITS EXISTING PLANS, EXECUTIVE BOARD NOW ASSUMES THAT TOTAL LIQUIDITY OF EUR 11.2 MILLION IS NOW REQUIRED TO SUSTAIN COMPANY AS A GOING CONCERN

* TOTAL OF EUR 15.3 MILLION NEEDED THROUGH TO BREAK-EVEN IN JUNE 2022 FOR GROUP AND NOVEMBER 2022 FOR PARENT COMPANY

* BAUERFEIND BETEILIGUNGSGESELLSCHAFT MBH HAS ASSUMED OBLIGATIONS TO COMPANY TOTALLING AROUND EUR 13.24 MILLION.

* AIM OF CAPITAL INCREASE IS TO GENERATE ISSUE PROCEEDS OF APPROX. EUR 6.5 MILLION

* RIGHTS ISSUE IS EXPECTED TO START ON 8 MAY 2020 AND END ON 22 MAY 2020

* AIM IS TO GENERATE ISSUE PROCEEDS OF APPROX. EUR 6.5 MILLION.

* SUBSCRIPTION PRICE, SUBSCRIPTION RATIO AND NUMBER OF NEW SHARES ARE STILL TO BE DEFINED Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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