Swedish Automobile Issues Subscription Notice Under GEM Facility
Trollhättan, Sweden: Swedish Automobile N.V. (Swan) announces today that it issued a subscription notice for 4 million shares under the current EUR 150 million equity facility between Swan and GEM Global Yield Fund Limited. The exact number of shares to be issued and the price thereof will depend on the pricing period which commences today.
Swan and Saab Automobile AB continue their discussions with parties to obtain further short-term funding to be able to restart and sustain production.
SU commentary: To me this is a plan B. It looks like Saab is taking measures to be able to pay the August wages, just in case plan A can’t be fulfilled fast enough.
This is my personal assumption and not a fact.