Zutec Holding AB (publ) (“Zutec”) today announced that it has repaid in full the loan from Athanase of EUR1m plus applicable interest.

“In accordance with our intentions at the time of the rights issue we have repaid all the debt to Athanase. We believe that based on the stage of Zutec’s development that being debt free is the appropriate capital structure. We now have a strong cash position and our capital structure has been aligned and our focus is to build on the strong momentum of growth we are experiencing by making further investments into sales and marketing allowing us to capitalize on the large number of opportunities available to us in the market ”, says Gustave Geisendorf, CEO of Zutec.

 

For more information, please contact:

Gustave Geisendorf, CEO at Zutec, gustave.geisendorf@zutec.com, +353 1 201 3565

This information is information that Zutec Holding 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 17.48 CET on 26 August 2020.

 

About Zutec

Zutec is a provider of cloud-based construction management software with offices in Dublin, London and Melbourne.

Zutec Holding AB (publ) is listed on Nasdaq First North Growth Market and Mangold Fondkommission AB is the Company’s acting Certified Adviser (Tel. + 46 8 5030 1550, CA@mangold.se, www.mangold.se).