Correction: Move About refinances existing loans of SEK 13 million

linusPress Releases, Regulatory

In an earlier version of this press release published December 20, 2022 at 20:26, detailed information of the terms regarding possible set-off of the Loan against shares were missing. Below follows an updated press release in its entirety, which also includes more detailed information of the terms for set-off of the Loan.

Move About Group AB (“Move About” or the “Company”) has agreed with Formue Nord Fokus A/S of a refinancing of existing loans of SEK 13 million (the “Loan”). Part of the outstanding loan of SEK 17 million, excluding accrued interest, which was procured on July 22, 2022, shall be repaid with the proceeds from the rights issue proposed by a group of shareholders in the Company which was published via press release, December 20, 2022. Thereby, the remaining part of the outstanding loan to Formue Nord Fokus A/S of SEK 13 million will be refinanced.

The Company has refinanced SEK 13 million of the SEK 17 million loan, excluding accrued interest, which was procured on July 22, 2022 from Formue Nord Fokus A/S. The Loan was agreed upon, December 20, 2022. In total, approximately SEK 5.8 million will be repaid, of which SEK 4 million is amortization and approximately SEK 1.8 million is accrued interest to the lender. Repayment is intended to be made with issue proceeds from the rights issue proposed by a group of shareholders in the Company, which was published via press release, December 20, 2022. The new Loan is procured at market terms of 0.8 percent monthly interest per started 30-day period and matures on December 20, 2024.

If the Loan has not been repaid by December 20, 2024 at the latest, the lender has the right to set-off the Loan against shares in a directed issue at a subscription price per share corresponding to 90 percent of the volume-weighted average price paid for the Company's share during a period of 10 days before the request for a directed issue for set-off is received from the lender. The minimum issue size for such a directed issue shall amount to SEK 2 million. Furthermore, the lender has a right to, with payment by setting-off the outstanding claim, participate in any new issues that the Company carries out during the term of the Loan, provided that such participation is compatible with Swedish law and Generally Accepted Practice in the Securities Market.

A part of the eventual proceeds from the exercise of warrants of series TO2, which are included in the proposal from the shareholders regarding a rights issue, shall be used to repay the Loan. There is no related connection between the lender and the Company.


Mangold Fondkommission AB is financial adviser and Eversheds Sutherland Advokatbyrå AB is legal adviser to Move About Group AB in connection with the transaction.

For further information, please contact:

Olof Jonasson, CEO, Move About Group AB
Tel: +46790683811

Certified Adviser

The Company's Certified Adviser is Mangold Fondkommission AB.

About Move About Group AB

Move About offers app-based, environmentally friendly and cost-effective mobility solutions to individuals, companies, municipalities and organizations. The Company has developed and owns all intellectual property rights to the cloud-based green tech platform that provides digital access to electric cars, electric bicycles, taxis, subway and parking, all through the same app - around the clock. Every kilometre that the user travels with the electric cars via the platform means reduced CO2 emissions. The Company's comprehensive mobility solutions are based on the Move About app, which gives the user access to the Company's pools of electric cars, bicycles and scooters. Move About also helps companies, municipalities and organizations optimize their fleets by tailoring mobility solutions to their needs. Move About was founded in Oslo, Norway, in 2007 and has over 70,000 users on its platform and over 800 electric cars in its vehicle fleet with a presence in Sweden, Norway and Germany.