Indeed, despite all the efforts made in the research of financing options, and as indicated several times by the Company in its previous communications, the Company might not be able to face its financial obligations after the end of
Considering such liquidity risk over a maximum 2-month horizon and the absence of new financing to date,
In this context, the
The Court has opened an observation period of 6 months.
During this period,
In this context,
The market will be regularly informed of the progress of the procedure and, more generally, of
As at
- the cash position of the Company amounts to €2.575 million, providing for an estimated cash runway through the end of
December 2023 2; - the nominal debt position of the Company amounts to €9.203 million.
As a consequence of the opening of such safeguard proceedings, the Company is not in a position to publish its H1 2023 condensed financial statements, which will therefore be published at a later date.
About Pixium Vision
Forward-Looking Statements. This press release contains certain forward-looking statements. Although the Company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated. For a discussion of risks and uncertainties which could cause the Company's actual results, financial condition, performance or achievements to differ from those contained in the forward-looking statements, please refer to the Risk Factors (“Facteurs de Risques”) section of the Company’s 2022 Annual Financial Report and other documents the Company files with the AMF, which is available on the AMF website (www.amf- france.org) or on the Company’s website.
For more information: http://www.pixium-vision.com/fr
Follow us on @PixiumVision; www.facebook.com/pixiumvision
www.linkedin.com/company/pixium-vision
Contacts
Investor Relations Chief Financial Officer investors@pixium-vision.com | Media Relations Sophie.baumont@rosepiquante-consulting.com +33 6 27 74 74 49 |
1 In particular, the Company draws investors' attention to the possibility that, in the event of a court-ordered plan to sell off all or part of the Company's assets, the price offered may not allow shareholders to be reimbursed in full or in part.
2 Considering the effects produced by the opening of safeguard proceedings.
Attachment
- PR - opening safeguard -
09.10.23 ENG - final
Source:
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