English
Published: 2018-02-16 15:00:00 CET
CybAero AB
Announcement from First North
Comments regarding financial situation in CybAero AB
Trading in CybAeros share, listed on Nasdaq First North, was halted before
stock
market opening on Thursday, February 15th. The background to the trade
halt is
acute liquidity shortage.
On July 24, 2017, CybAero signed a financing
agreement with Dubai-based Bracknor
Investment Group, providing a financing
solution amounting to USD 5.25 million
in the form of seven convertible loans
Ongoing discussions with Bracknor on the
delivery of the agreement's third
tranche of USD 850 000 are at an impasse and
CybAero no longer thinks it is
likely that Bracknor will deliver the requested
funds. This has led CybAero to
an acute liquidity shortage.

CybAero is currently examining how long the
existing liquidity is sufficient to
run the company. CybAero examines if more
than half of the share capital has
been consumed. If so, CybAero will establish
a balance sheet review, in
accordance with the Swedish Companies Act, Chapter
25, 13.

CybAero is currently discussing with other financiers about the
opportunity to
solve the emerging situation. If the discussions are not
successful a bankruptcy
could not be ruled out.

For additional information,
contact:
Michael Auerbach, Chairman CybAero AB
Phone +46 13 465 29 00
Email:
ir@cybaero.se

Web:  www.cybaero.se         Videos:
www.youtube.com/cybaero

About CybAero
CybAero develops and manufactures
Remotely Piloted Aircraft Systems (RPAS) for
safer and more effective aerial
operations in various environments, including
those hazardous in nature. The
company has made a great international impact
with its APID One helicopter,
which can be adapted for both military and
civilian applications such as
coastal and border surveillance, search and rescue
missions, and mapping.
CybAero’s head office is located in Mjärdevi Science Park
in Linköping, Sweden.
The company has been listed on the NASDAQ First North
since 2007. FNCA Sweden
AB is the company's certified adviser.

This information is information that
CybAero AB 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 15:00
CET on 16 february 2018.

 


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