As communicated in the interim report for the last quarter of 2017, certain shareholders have contributed equity to the group (the “Equity Contribution”).
An extraordinary meeting has been held whereby shareholders resolved on a new share issue in West Atlantic AB (publ) (“West Atlantic”). The subscription period and registration of the new shares has now been finalised. 15,864,205 of preferred shares have been issued at a subscription price of SEK 2 per share. Through the new share issue, the preferred shares in West Atlantic increases by 15,864,205, from 0 to 15,864,205 and the share capital increases by SEK 15,864,205 from SEK 27,004,640 to SEK 42,868,845.
Due to the earlier communicated Equity Contribution now having been completed, the proposed amendments and waivers to the terms and conditions of West Atlantic’s bond loan, approved by the bondholders in a written procedure concluded on 1 February 2018, which were subject to the completion of the Equity Contribution, will now become effective.
For further information, please contact:
Magnus Dahlberg, CFO
Telephone: +46 (0) 10 452 95 49
This information is information that West Atlantic AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 2018-04-04, 08.00 CET.
About West Atlantic
The West Atlantic Group is one of the market leading providers of dedicated airfreight services to European NMO’s and airfreight capacity to Global Integrators and Freight Forwarders. The Group has a well-established geographic network and operates a customised aircraft fleet, whereof a majority is wholly owned. West Atlantic was founded in 1962 and is headquartered in Gothenburg, Sweden. Operations are performed all over Europe and 2017 West Atlantic had 459 employees. For 2017 West Atlantic reported revenues of MSEK 1,589 and EBITDA of MSEK 126.
West Atlantic AB (publ) Org. no: 556503-6083, Box 5433, SE-402 29 Gothenburg, Sweden