October 17, 2017 / 6:57 AM / 5 months ago

BRIEF-Seamless says considers re-alignment for sustainable growth

Oct 17 (Reuters) - Seamless Distribution AB

* Seamless considers re-alignment for sustainable growth

* Says considering two ‍proposals

* First is phasing out of B2C offering SEQR, and a renewed focus on B2B offerings​

* Says also ‍considering to propose launch of a rights issue, to be completed before year-end 2017 to fund growth of B2B and exit costs of B2C

* Says ith a pure B2B focus, Management and the Board believe that Seamless’ shareholders would gain exposure to rapid growth, with lower risk.

* Says by eliminating the highly cash consuming B2C offering, the company would be able to both bring forward its move into profits, and to focus on the activities where our competitive advantage is most obvious, and sustainable.

* Says following a rights issue, Seamless would improve an already strong balance sheet, and in possession of substantial realisable financial assets. These funds would enable the company to move more quickly into profit, and to a position of sustainable positive cashflow generation.​ Source text for Eikon: Further company coverage: (Reporting By Simon Johnson)

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