Funding Situation for S&T Secured

Businessn.a. ♦ Published: October 4, 2011; 14:24 ♦ (Vindobona)

The Austrian IT-company could successfully conclude an agreement on capital increase and debt relief of banks.

Funding Situation for S&T Secured / Picture: © S&T Austria GmbH

The targeted financial and balance sheet restructuring has been agreed today between the company, the investors Quanmax AG and grosso holding Gesellschaft mbH and the banks. It is currently being formally finalized.

The implementation requires, among other things, the approval of the Annual General Meeting of S&T, which will be called for 25 October 2011. In addition to the…