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BBS-Bioactive Bone Substitutes Plc: The special condition fulfilled, over 2 million euros of loans is written off

BBS-Bioactive Bone Substitutes Oyj
Posted on: 27 Apr 18

BBS-Bioactive Bone Substitutes Plc: The special condition fulfilled, over 2 million euros of loans is written off

 COMPANY ANNOUNCEMENT 27th APRIL 2018

Innovation Funding Center Business Finland has announced that BBS-Bioactive Bone Substitutes Plc (BBS) has fulfilled the special condition of the previously approved decision to write off most of the loans previously given to BBS. The decision to write off debt concerns the capital and product development loans granted to BBS in 2004 and 2007. The aggregate amount of the loans is EUR 2.494.200, of which EUR 2.224.150 is written off and consequently does not have to be repaid.

CEO Pekka Jalovaara: "This is a very positive announcement for our company. The decision does not have a direct effect to the profit in year 2018 but it significantly reduces the amount of BBS's debts. The decision to write off debt has been received in the end of last year and has been taken into account already in the listing prospectus. "

Furthermore, BBS has made a decision that it has one common advisor in Finland and in Sweden. Stockholm Certified Advisers AB is the certified advisor of the company.

 

More information:

CEO, Pekka Jalovaara, tel. +358 50 5529275, pekka.jalovaara(at)bbs-artebone.fi

Certified Advisor:

Stockholm Certified Advisers AB, tel. +46 70 5516 729

BBS-Bioactive Bone Substitutes Plc ("BBS") is the health technology company operating since 2003. Before that there was a background of seven years of medical research in the University of Oulu. We have developed a new product for healing of difficult bone fractures and for solving the problems in bone healing. Our mission is to offer new generation medicinal products for the orthopedic surgery. The research and development in the field of medicine requires perseverance and courage to develop new things.  We have over 20 years of expertise in this. Our operations are characterised by top expertise, innovativeness and dedicated and committed employees. The ARTEBONE ®product is ready and the application process for the CE-mark has been initiated. BBS is the company having its headquarters in Oulu. We have our own production plant located in Reisjärvi and it is approved by FIMEA.  More information: www.bbs-artebone.fi .

DISTRIBUTION:
Nasdaq Helsinki Oy
Nasdaq Stockholm AB
Main Media



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: BBS-Bioactive Bone Substitutes Oyj via GlobeNewswire
HUG#2188450
GlobeNewswire
globenewswire.com

Last updated on: 30/04/2018

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