Status of the Company's receivables from Portinho S.A.
September 25 2023 - 2:49PM
Status of the Company's receivables from Portinho S.A.
25. September 2023
Announcement no. 39
Status of the
Company's receivables from Portinho
S.A.
In the consolidated financial statement (with
the subsidiary Reponex Pharmaceuticals A/S) as of 30 June 2023, the
Company has a receivable from Portinho S.A., recognized at fair
value in accordance with IFRS accounting rules on reverse
take-over, with a value of DKK 62.8 million.
The recognitions in the consolidated financial
statements as well as in the Company's financial statements are
based on the receivable amounting to EUR 9.55 million plus interest
and with an agreed maturity no later than 1 July 2023.
The Company’s Board of Directors and the
Executive Management does still have a close dialogue with the
management of Portinho S.A. Based on this dialogue and the
information received from Portinho S.A., it is the expectation,
that the receivable will be repaid shortly and probably not later
than December 2023.
Capital
The Company has provided security to several
financial creditors, including Sparekassen Sjælland-Fyn A/S,
Nykredit A/S and private lenders, in the receivables from Portinho
S.A. The due dates of the debts secured by the Portinho receivables
will, notwithstanding the above, follow the concluded resolution
plan.
In consequence of the postponement of payment
from Portinho S.A., the Company is looking into a possible bridge
financing together with existing shareholders.
For further information, please
contact:
Thomas Kaas Selsø, CEO of Pharma Equity Group
A/S, phone: +45 40 22 21 14
Christian Vinding Thomsen, Chairman of the Board
of Directors of Pharma Equity Group A/S, phone: +45 2622 7222
About Pharma Equity Group A/S
Pharma Equity Group, a listed company on the
Nasdaq Copenhagen stock exchange, is fully dedicated to advancing
the medical projects of its subsidiary, Reponex Pharmaceuticals
A/S. With an unwavering focus on healthcare, Pharma Equity Group's
primary objective is to bring significant value to Reponex
Pharmaceuticals' medical projects.
The company is committed to providing extensive
support, resources, and expertise to drive the development and
success of these projects. As a strategic partner, Pharma Equity
Group works closely with Reponex Pharmaceuticals, prioritizing the
advancement of innovative medical solutions and breakthrough
therapies. Every effort is currently directed towards ensuring the
utmost success and impact of Reponex Pharmaceuticals' medical
projects, with an unwavering dedication to improving global
healthcare outcomes. Only when the full potential of Reponex
Pharmaceuticals has been unfolded is the intention to explore
opportunities to invest in other companies. This approach ensures a
strong commitment to the current medical projects and their
development, while – on the longer term – remaining open to new
strategic investments for continuous growth.
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