Savosolar has due to customer project-schedules a short-term deficit in the working capital

Savosolar PlcCompany Announcement                   28 November 2018 at 12.00 a.m. (CET) Savosolar has due to customer project-schedules a short-term deficit in the working capitalSavosolar Plc ("Savosolar" or the "Company") assesses a risk that the working capital is deficient to cover the...

London, 28/11/2018 (informazione.news - comunicati stampa - energia)

Savosolar Plc
Company Announcement                   28 November 2018 at 12.00 a.m. (CET)

The Company has in delivery phase customer projects with 2,6 MEUR of cash flow, which would cover well the planned working capital need. These customer payments will anyhow be received during the Q1 2019.

The Company's warrants of Warrant Plan 1-2018 have a final subscription date on 10 December 2018. Due to the difference between the strike price (0.02 EUR or 0.21 SEK) and the current share price, the Board assesses that with the current subscription price the plan for receiving working capital via the warrants is risky, 

Because of this the Company has started negotiations for short-term financing solutions to secure working capital until cash flow from current projects is received and will revert with further details as soon as decisions in the financing issue have been taken or the working capital matter is other ways solved.

SAVOSOLAR PLC.

Savosolar Plc
Managing Director Jari Varjotie
Phone: +358 400 419 734
E-mail: jari.varjotie@savosolar.com

Savosolar Plc discloses the information provided herein pursuant to the Market Abuse Regulation ((EU) No 596/2014, "MAR"). The information was submitted for publication by the aforementioned person on 28 November 2018 at 12.00 a.m. (CET).

www.savosolar.com