The capital management company Inveready has formally communicated to Parlem the claim for the collection of the four convertible bond issuances of which it is a holder, as reported by the telecommunications operator in a statement sent this Monday to BME Growth.
Likewise, a creditor linked to Inveready has declared the early maturity of the Revolving Facility Agreement, applying the cross-default clause. In both cases, the creditors have considered the corresponding amounts as liquid, due, and payable, and have urged the company to proceed with their payment.
Two other minority investors holding convertible bonds have also communicated the early maturity of their respective issuances, also declaring the amounts as liquid, due, and payable, although they have conveyed to the Company their willingness to agree on a payment schedule.
Parlem has reiterated that it is working "actively" to find a solution within the framework of a possible recapitalization plan and that it maintains its full willingness to negotiate with all its creditors.
On the other hand, the company has indicated that a shareholder has requested the convening of an Extraordinary General Meeting at which a plan aimed at resolving the financial situation arising from current indebtedness would be presented.
First four-month results
Parlem has announced that it registered a turnover of 16.4 million euros between January and April, in line with the forecasts approved for the year, which contemplate total annual revenues of 47.95 million.
Recurring Ebitda remained "in line with the annual budget" and the company has indicated that it has implemented measures to improve cash control and free cash flow, including a 54% reduction in investment aimed at acquiring new customers.