EnergyO Invest : EOS Invest plans organizational changes and introduces cost-saving programs

17/5/2023

Printable version

EOS Invest has recentlyannounced its intention to apply for a delisting from Nasdaq First North Growth Market. This is the first step in the plan to reduce costs and make organizational changes designed to increase EOS' chances of gaining access to the Moscow Exchange and to the dividends that have, and will be, paid out by EOS' portfolio companies.

The cost reductions resulting from these organizational changes will be supplemented by a newly launched cost deferral program. As a result of these cost cutting measures, EOS' cash requirements will be reduced by half, enabling the company to continue to operate for about twice as long as would otherwise have been the case before requiring any external cash injections. This cost deferral program comprises a 100% reduction of the current remuneration for all employees and consultants and it will run until EOS regains access to the dividends accrued.