The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
We have always said that we would return the corona state aid promptly and in full. The Company intends to use the net proceeds of the capital increase of approx. €1.75 billion to reduce interest costs and debt. As previously agreed with the WSF, the €420.0 million convertible Silent Participation I made available by the WSF and the outstanding €58.7 million 2020/2026 Bonds with Warrants, including all warrants, issued to the WSF and including accrued interest at a total market value of around €750 million will be repaid in full. Additionally, the net proceeds will be used for the full repayment of current drawings under the KfW facility. As of 23 March 2023 these amounted to around €440 million. With the remaining net proceeds of approx. €568 million the current drawings under the €1,454 million Cash Facility will be reduced to approx. €870 million. As of 23 March 2023 the drawings under this facility amounted to around €1,438 million. In addition, the Company intends to significantly reduce the €2.1 billion credit line under the KfW facility to €1.1 billion.
With the successful implementation of the planned capital measures, we strengthen our balance sheet, we benefit from lower interest payments and we gain further financial and entrepreneurial flexibility for the implementation of our strategy. We want to grow profitably again and gain more market share with additional customers and new products.
Disconnected from the volatile share price performance, we have published a press release on 6 April in which we reconfirmed the encouraging booking momentum already reported in the Q1 results on 14 February 2023. We continue to expect capacity for the summer to be close to pre-crisis levels and anticipate a good summer 2023. We will provide a further update on 10 May with the publication of our half-year results.
Who saying this will drop to 20 or 30p
All predictions let the market decide.
This management lost control probably enjoying in Dubai.