on SINGULUS TECHNOLOGIES AG (isin : DE0007238909)
SINGULUS TECHNOLOGIES Revises Financing Agreement with Triumph
SINGULUS TECHNOLOGIES AG has announced a restructuring of its financial obligations with its principal shareholder, Triumph Science & Technology Group Co. Ltd., a subsidiary of CNBM Group, based in Beijing. In the 2023 fiscal year, Triumph provided SINGULUS with financing amounting to €20.0 million.
The companies have agreed to offset €10.3 million of trade receivables against existing liabilities from this financing. Additionally, they reclassified the remaining €9.7 million liabilities as advance payments on current equipment contracts. This restructuring eliminates the need to repay the initial €20.0 million.
This reorganization aims to streamline financial commitments and enhance liquidity for SINGULUS.
R. H.
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