June 30, 2020 / 1:01 PM / 11 days ago

BRIEF-Stenocare Is Debt-free

June 30 (Reuters) - Stenocare A/S:

* STENOCARE IS DEBT FREE

* BOARD OF DIRECTORS HAS DECIDED TO REPAY ITS OUTSTANDING LOAN-BALANCE OF DKK 9.7 MILLION, INCLUDING ACCRUED INTEREST

* MANAGED ITS PRIOR CASH RESERVES CAREFULLY, AND AS A RESULT, CASH AT HAND WAS ABOUT DKK 10 MILLION BY TIME RIGHTS ISSUE WAS LAUNCHED

* PAYMENT WILL BE MADE TODAY FROM CASH AT HAND BEFORE RIGHTS ISSUE

* BOARD OF DIRECTORS THEREFORE FINDS STENOCARE TO BE IN A VERY STRONG FINANCIAL POSITION AND HAS THUS DECIDED TO REPAY REMAINING DKK 9.7 MILLION OF LOAN OUT OF FUNDS ALREADY IN PLACE BEFORE ISSUE.

* HAS NO INTEREST-BEARING DEBT AND AT SAME TIME DKK 40 MILLION (NET) PROCEEDS FROM ISSUE IN BANK Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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