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Gunnebo Updates on Anticipated Effects of Divestment of Loans and Shares and Write-down of Loans in Respect of Perimeter Protection

January 24, 2014

The Gunnebo Group's result in the fourth quarter 2013 will be burdened with a total of 5 MEUR due to an assignment and a write- down of loans related to the divestment of Perimeter Protection to Procuritas Capital Investors IV ("Procuritas") carried out during 2011. According to a release, a financial reconstruction of Perimeter is carried out. Gunnebo on January 9 entered into an agreement with Procuritas regarding a divestment of loan receivables against Perimeter in a nominal amount of 2 MEUR and Gunnebo's remaining shares in Perimeter (equal to 10 percent of the shares and votes). The divestment takes place without remuneration. At the same time, Gunnebo entirely writes down its remaining loan receivables against Perimeter in a nominal amount of 3 MEUR. The shares in Perimeter have previously been entirely written down. The group reported that the total negative effect on the result amounts to 5 MEUR. It will be accounted for as a financial cost. The Gunnebo Security Group provides security solutions to customers around the globe. ((Comments on this story may be sent to ))

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Source: Professional Services Close - Up

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