AVTECH applies for termination of its reorganization The

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2018
AVTECH applies for termination of its reorganization

The Board of AVTECH Sweden AB (publ) (”AVTECH” or the ”Company”) today announces that an application has been sent to the Attunda District Court in Stockholm Sweden, to terminate the Company’s ongoing successful reorganization as the objectives of the reorganization have now been met. AVTECH will following the termination being granted, fully pay all the creditors whom are part of the Company’s reorganization-moratorium. ”It is with great satisfaction that I conclude that our activities in regards of implementing a long-term financing solution have been successful, well within the time-span that was allowed by the reorganization”, says Lars GV Lindberg, the Chairman of Board of AVTECH. ”The Company’s Board and management have invested significant efforts in implementing the activities that were announced in connection to the Company entering the reorganization, i.e. to reduce the Company’s costs, to reorganize the Company with a focus on Sales, and to implement the recently concluded preferential rights issue”, continues Lars GV Lindberg. “I especially want to thank our existing owners for the strong support that we have received and I also welcome our new share-owners to a very exciting company”, concludes Lars GV Lindberg. ”AVTECH has during the last five months completed a journey that would take a number of years for a company in a normal situation to do, and I am as a whole very satisfied with the outcome of our activities during the reorganization”, says Christer Staaf, the CEO of AVTECH. ”Though the reorganization will near -term be formally terminated, and we now have a situation where our costs are lower and our organization is adapted to be able to increase our business volumes significantly, it is with great humility that we now enter a normalized phase following the reorganization”, continues Christer Staaf. ”The fact that two of our Aventus NowCast customers started live commercial operations during the reorganization is a very important milestone as it proves that the system works in a commercial operative environment, though extensive and intensive work remains in order to expand our portfolio of commercial Aventus-contracts to the level where it generates a sufficient amount of uplinks to reach profitability and beyond. This is our upcoming but positive main challenge. I look forward to continuing a very exciting journey with AVTECH”, concludes Christer Staaf. For more information, please contact Christer Staaf, CEO, +46 (0) 8 544 104 80 Jonas Saric, CFO, +46 (0) 8 544 104 80 About AVTECH Sweden AB (publ) AVTECH develops products and services for digital Air Traffic Management (ATM). Its customers include the global aviation industry; e.g. airlines, airports, aviation authorities, technology companies and airline manufacturers. By using AVTECH’s products and services, each individual flight as well as the entire airline operation can be optimized in terms of cost, noise and emission, efficiency, punctuality and safety. The head office is in Stockholm, Sweden with subsidiaries in Toulouse, France and Dubai, U.A.E. AVTECH Sweden AB is listed on NASDAQ OMX First North and has appointed Mangold Fondkommission AB as Certified Adviser.

Scroll down for more posts ▼

Top 10 Most Recent News Articles

ITP Media's Bold Move: Ready for Asian Market Surge

Updated Category News Views 4

Pushing Boundaries: ITP Media Group Eyes Asia ITP Media Group isn't here to tiptoe around the media market; they're diving headfirst with the recent takeover of Heart Media Group. A bold move, some might say, in this volatile world of media mergers and acquisitions. But let's break down what this really means. A Strategic Bet on Luxury To start, ITP Media is beefing up...

Continue Reading
ThreatLocker Unveils Critical August Cyber Findings

Updated Category News Views 0

The Persistent Battle of Cybersecurity Every month has its drama in the world of cybersecurity, but August was a real soap opera. ThreatLocker, a heavyweight in the cybersecurity ring, dished out its latest findings, and boy, these threats still pack a punch. Even with all the chatter about AI, it seems cyber attacks haven’t changed their ways much. CEO Danny Jenkins...

Continue Reading
Long Island's JCC Boosted by Manes Family Legacy

Updated Category News Views 0

Unpacking a Monumental Gift to Long Island's Jewish Community Right out of the gate, this is a big one for the folks over at the Mid Island Y JCC in Plainview, Long Island. They've just hit the jackpot with a historic naming gift, transforming the place into the Manes JCC. Now, why does this matter to anyone keeping tabs on the nonprofit world? Because gifts like these...

Continue Reading
Hisense and UEFA 2028: A Winning Partnership Experience

Updated Category News Views 0

Hisense Extends its UEFA Adventure You ever get the feeling that some partnerships are like a football match made in heaven? Well, Hisense surely seems to think so as they've renewed their gig with UEFA for the 2028 European Championship. That's their fourth tango with UEFA, a relationship that's matured like a fine wine since it all kicked off in 2016. Now, if you're...

Continue Reading
Danielle D. Pollard Releases Game-Changing Exec Book

Updated Category News Views 2

Revolutionizing Communication Dynamics In a world where every word is scrutinized, Danielle D. Pollard's new book, Act Like a Lady, Speak Like a Wolf, arrives like a jolt of caffeine on a sleepy morning. With decades of engineering know-how and corporate grit, Pollard serves up a no-frills strategy to conquer the communication game, especially designed for women fighting...

Continue Reading
Cango's EcoHash Marks AI Move with Key Milestones

Updated Category News Views 3

AI Expansion at EcoHash: A Strategic Stride Some days you wake up, read a company pushing its legacy into something new, and you just gotta wonder if they’ve hit paydirt or just blowing smoke. For Cango Inc. and its subsidiary EcoHash, this latest update is shaping up interesting. They're no small potatoes in mining Bitcoins, but they're now trying their hand at AI...

Continue Reading
Moore and RMI Forge Alliance for Data-Driven Success

Updated Category News Views 11

RMI and Moore Team Up for Strategic Evolution Let me tell ya, RMI Direct Marketing deciding to join forces with Moore’s AudienceFirst Media is a decision that’ll ripple through the data-driven waters for quite some time. They ain’t merging, mind you, but they’re definitely tying their ships together with a shared compass set on list management and brokerage...

Continue Reading
VT Markets Appoints Maxwell for Global Expansion

Updated Category News Views 3

Maxwell Joins VT Markets Amid Strategic Shift Forget the usual humdrum of C-suite comings and goings; this one's packed with punch. VT Markets is setting the stage for a serious leap forward by naming Ross Maxwell their new Chief Strategy Officer. This isn't just another desk job—it's a pivotal role meant to integrate cutting-edge technology with the ever-evolving...

Continue Reading
Rodeo Dental Gears Up for National Growth Surge

Updated Category News Views 0

Rodeo Dental's Leadership Shuffle When you're talking about upping the ante in the dental world, you can't ignore the recent shake-up at Rodeo Dental & Orthodontics. They've decided to retool their corner office lineup, and this is where the folks in suits meet the folks with the steady hands in teeth. Co-Founder Dr. Saam Zarrabi is stepping into an Executive Chairman...

Continue Reading
Sports CIOs Tackle Venue Tech Ownership Challenges

Updated Category News Views 3

Untangling the Mess Behind Game Day Ever wonder why getting to your seat at a sports event feels seamless? It's like magic with your ticket appearing as a barcode on your phone, the concession stand knowing your order from last week's game, and sponsor ads personalized just for you. This is no easy feat. Behind the scenes, though, it's akin to a game of Twister. The...

Continue Reading

Top 5 Most Recently Viewed Articles

Rover's Strategic Acquisition of Mad Paws Boosts Global Presence

Updated Category News Views 510

Rover Expands Its Horizons with Mad Paws Acquisition Rover, the world's largest online marketplace for pet care, has taken a significant step toward international growth by announcing a binding Scheme Implementation Deed with Mad Paws. This landmark agreement positions Rover to acquire 100% of Mad Paws' shares as part of a scheme of arrangement, enabling Rover to...

Continue Reading
First Quantum Minerals Upsizes Senior Notes Offering to $1 Billion

Updated Category News Views 120

First Quantum Minerals Increases Notes Offering to $1 Billion TORONTO — First Quantum Minerals Ltd. (“First Quantum” or the “Company”) (TSX: FM) has announced a significant financial development regarding its recent offering. The Company has completed the pricing for its offering of $1.0 billion aggregate principal amount of senior notes carrying a 7.250%...

Continue Reading
Emeren Group Ltd. Under M&A Investigation Amid Cash Sale Bid

Updated Category News Views 183

Investigation of Emeren Group Ltd. The renowned M&A Class Action Firm has launched an investigation into Emeren Group Ltd. (NYSE: SOL) concerning its proposal to sell to Shurya Vitra Ltd. The contemplated transaction entails a cash payment of $0.20 per ordinary share, which equates to $2.00 per American Depository Share. This sale has sparked notable inquiries into...

Continue Reading
OKX Explorer Expands Functionality with Bitlayer Support

Updated Category News Views 77

OKX Explorer Expands Support for Bitlayer OKX Explorer, a prominent blockchain search engine and Web3 analytics platform, has recently upgraded its capabilities by incorporating Bitlayer, the first Bitcoin Layer 2 solution that operates on Bitcoin finality. This development represents a major advancement in OKX's objective to deliver comprehensive insights and robust...

Continue Reading
Insightful Overview of Rathbones Group Plc's Position Report

Updated Category News Views 106

Understanding Rathbones Group Plc's Position Disclosure Rathbones Group Plc has made significant strides in clarifying its position regarding the securities it holds. In this detailed overview, we will discuss the key information surrounding their open position disclosures, particularly focusing on interests and dealings related to the relevant securities of Assura Plc....

Continue Reading