LAUSANNE, FEBRUARY 12, 2021
AD HOC INFORMATION DISCLOSURE
As communicated in the company's last press releases, the Board of directors of Perfect Holding SA has been analysing and discussing a possible acquisition project with a third party investor since the end of April 2020. However, due mainly to the complexity of the contemplated transaction and to the failure of the third party investor to pay some of the contractually agreed drawdowns for the funding of the Group's continued operations under the signed bridge facility agreement, the Board of directors has come to the conclusion that it will not be possible to complete this particular transaction within a reasonable timeframe and has accordingly decided to put an end to the negotiation process.
The Board of directors has resumed its search for other opportunities. Such companies would be in sectors less volatile than the aviation industry and would be capable of being acquired reasonably fast by way of share exchange.
As the discontinuation of the negotiations releases the third party investor from its commitment to pay the future contractual drawdowns, the Board of directors is securing an interim bridge ﬁnancing arrangement with a related party, on terms similar to those of the most recent bridge facility agreement, in order to fund the immediate ﬁnancial needs of the Group until new ﬁnancing arrangements can be implemented in the context of a potential alternative project.
In spite of the discontinuation of the project on which it has been working for the past few months, the Board of directors remains hopeful that it can present a potentially interesting project to its shareholders within the next few months. However, as stated previously, there is, as for any project of this kind, no certainty at this stage that the outcome of the analysis and negotiations will be successful.
Perfect Holding SA, listed on the SIX Swiss exchange (under PRFN), and its subsidiaries are dedicated to services to the business aircraft market.
PERFECT HOLDING SA - AVENUE DE FLORIMONT 3 - 1006 LAUSANNE - SWITZERLAND TEL. +41 21 552 60 16 - WWW.PERFECT.AERO
Perfect Holding SA published this content on 12 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 February 2021 17:40:02 UTC.