(Alliance News) - ePrice Spa reported Wednesday that Negma Investment Ltd has challenged the company on defaults related to the investment agreement signed in March 2022.

Negma considers the agreement terminated and has demanded the return of the amounts disbursed against the subscription of the two tranches of the convertible bond made on July 26.

"ePrice has immediately taken action, instructing its lawyers to formulate an express and circumstantial response to the counterparty's objections, which it considers to be completely unfounded, while reserving all the most appropriate judicial initiatives to protect its image, asset integrity and interest in fully executing the restructuring agreements and the planned payments in favor of creditors," the company said.

ePrice's stock is down 1.0 percent at EUR0.0098 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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