Cybercom intends to carry out a rights issue

2012-07-13, 12:59

This press release may not be made public, published or distributed, directly or indirectly, in the United States of America, Canada, Australia, Hong Kong or Japan.

The board of directors of Cybercom Group AB (publ) (”Cybercom”) intends to, subject to approval by an extraordinary general meeting, carry out a rights issue of approximately SEK 125 million with preferential rights for the company’s shareholders. The board of directors intends to make the formal rights issue decision during August 2012, when the details about the new share issue and a notice to an extra general meeting, to approve the new share issue, also will be made public. The rights issue is intended to be carried out during the autumn 2012.

The reason for the rights issue is to strengthen the company’s capital structure and, in addition to the ongoing restructuring of Cybercom’s business, create improved prerequisites to reach the financial objectives.

The rights issue is part of a new financing solution developed by the executive management. The new financing solution, which fits better with Cybercom’s business, implies among other things that the company replaces a costly factoring solution with a more flexible credit facility and in addition improves current loan terms and conditions. Cybercom intends to use a part of the rights issue proceeds to make a one-time amortization of approximately SEK 50 million on existing loans.

The company’s major shareholders, JCE Group and others, who in aggregate represent approximately 43 per cent of the shares, have declared their intention to subscribe for their pro-rata shares in the event of a rights issue.

Cybercom is required to make this information public as per the Swedish Securities Market Act. The information was submitted for publication on 13 July at 13:00 pm

For further information please contact: 
Niklas Flyborg, President and CEO  +46 70 594 96 78
Camilla Öberg, CFO +46 73 398 50 01
Kristina Cato, Communication and IR manager +46 70 864 47 02

About Cybercom
Cybercom is an IT consulting company that assists leading companies and organisations to benefit from the opportunities of the connected world. The company’s areas of expertise span the entire ecosystem of communications services. Cybercom’s domestic market is the Nordic region, and in addition the company offers global delivery capacity for local and international business. Cybercom was founded in 1995 and has been quoted on the NASDAQ OMX Stockholm exchange since 1999.

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