The Board of Directors proposed to the General Meeting a resolution to initiate a reorganization proceeding in order to ensure the continuity of the Company’s operations, which the General Meeting approved.
In the past years, Linkker has invested heavily in product development, scaling production and building access to international markets. The efforts have however required heavy investments, weakened the profitability and would have required a stronger financial base.
This decision had to be made in order to stabilize our operations and ensure continuity. We understand that applying for reorganization proceeding will negatively affect our stakeholders and we are very sorry about that. We however believe that our reorganization decisions will best safeguard the interests of our creditors, suppliers, customers and employees in the long term.
The application for reorganization to the District Court will have no immediate effect on the Company’s business, and the Company will continue to execute agreed customer projects and provide maintenance and support services to its customers as normal as possible.
Board of Directors
Sten Stockmann, Chief Executive Officer, tel. +358-503521881