J. Molner AS Consolidated Unaudited Interim balance sheet for the 2 Months of 2024 and increase of The J. Molner Company OÜ voluntary reserveTallinn, 2024-04-01 14:30 CEST --
As of 31.12.2023, the Group's net assets do not meet the requirements of the Commercial Code. The Group submits a consolidated unaudited balance sheet as of 29.02.2024 to show that the net assets have been brought into compliance with the Commercial Code. The shareholder of The J. Molner Company OÜ has adopted a resolution on 27 March 2024 whereby the voluntary reserve capital of The J. Molner Company OÜ formed on 28th September 2022 is retrospectively increased as of 29th December 2023 by EUR 580,000. The new size of the voluntary reserve capital is EUR 2,395,000. The loan agreement amendment agreement converting the loan to the above-described subordinated loan, that is entered into the voluntary reserve capital of The J. Molner Company OÜ, was concluded on 27 March 2024 and took effect retrospectively from 31st December 2023. Additionally has the shareholder of The J. Molner Company OÜ adopted a resolution on 27 March 2024 whereby the voluntary reserve capital of The J. Molner Company OÜ formed on 28th September 2022 is retrospectively increased as of 29th February 2024 by EUR 579,945. The new size of the voluntary reserve capital is EUR 2,974,945. The above-described subordinated loan agreement, part of which is now entered into the voluntary reserve capital of The J. Molner Company OÜ, was concluded on 9th January 2024. The voluntary reserve capital is increased by a non-monetary contribution the object of which is the conversion of a loan given by the creditor of The J. Molner Company, into a subordinated termless loan with interest of 7% per annum on outstanding principal that is calculated monthly and the interest shall be payable to the creditor upon the repayment of the loan, if The J. Molner Company OÜ decides to pay interest.
Jason Grenfell-Gardner
J.Molner AS
Management Board member
+372 536 00 346
jason@jmolner.com
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