The board of MyFirstApp continuously works to strengthen the balance sheet and reduce debt. As such, the board has decided on a directed set-off issue to a strategically important investor and new owner,
The set-off issue consists of 640,000 shares with a subscription price of
Background
Abelco's claim against the company arose after the former creditor, Iron Branch, sold part of its claim to
The board of MyFirstApp has determined that this is the most cost-effective and strategic approach for the company to reduce its current debts. Therefore, we choose to offset existing debts rather than conduct a new share issue. The board has considered the alternatives and concluded that waiving the pre-emptive right in a new share issue is the best option for the company under the current circumstances.
CEO's Statement:
"The board's decision to initiate this partnership with Abelco is highly advantageous. It not only reduces our debts but also because Abelco contributes valuable competencies and resources in AI, which are crucial for our future projects. Moreover, Abelco has an established presence in
This information is insider information that
For further information, please contact:
Mobile: +4673 329 13 29
Email: jesper@myfirstapp.com
The MyFirstApp group is an edtech company that offers a wide range of educational games and applications through our brands Evolear, 10Monkeys, TalesTime, and MyFirstApp worldwide. Our commitment is to promote children's learning and development in areas such as mathematics, language, and cognitive skills by providing fun and interactive tools adapted for various ages and stages of development
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