Mrkt BUZZ Zazz Energy: Fully secured rights issue approved

Zazz Energy held an extraordinary general meeting on April 18, where all the board’s proposals were passed with the required majority. The meetings’ objective was to approve changes to the limits of the company’s articles of association and to decide on a rights issue communicated in March 2023.

The rights issue is guaranteed up to 100 per cent through subscription undertakings and guarantee commitments. This means that Zazz Energy will raise approximately SEK 26.4 million before issuing costs during April/May 2023. The issue proceeds will make the company debt-free, strengthen working capital, and contribute to improvements to the company’s facilities and infrastructure.

Over the past year, the share price has decreased following production stops and high management turnover. However, with the new capital, the company has a better chance of realizing its potential if production quickly resumes at the existing plant, and financing is secured for new projects.

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