(27 September 2024) Arribatec Group ASA (Arribatec, OSE: ARR) today announces a financial restructuring following a short-term liquidity shortfall.
Due to weaker than expected developments across key parameters, the current credit facilities and cash generated by operations will be insufficient to meet the liquidity requirements in the short and medium term.
The company is in constructive dialogue with its lenders to increase credit facilities to address the liquidity shortfall in the short term, and in combination with this, it is also exploring alternative funding routes. Such funding routes include equity re-financing, as well as other strategic alternatives for one or more of the company's business segments.
The company reports the third quarter 2024 financial results 31 October 2024.
ENDS
Geir Johansen, CEO, Arribatec Group ASA: +47 4771 0451
Martin Nes, Chairman of the Board, Arribatec Group ASA: +47 920 14 814
About Arribatec | www.arribatec.com
Arribatec is a software and consulting company headquartered in Oslo. With a customer-centric engagement model combined with a deep system, integration, and domain competence, Arribatec builds long-term strategic partnerships with a broad customer base. Arribatec serves more than 1700 companies spread over 25 countries and various industries in the private and public sectors. The company employs over 350 people with offices in 11 countries and is listed on the Oslo Stock Exchange under the ticker code ARR.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation, and was published by Geir Johansen, CEO, on the time and date provided.