Sweden, 2017-10-27 08:55 CEST (GLOBE NEWSWIRE) — ZetaDisplay has signed a new financing agreement which reduces the average interest rate to approximately 2.0 % and releases SEK 53 million in liquidity. At the end of the third quarter 2017, the corresponding average interest rate was approximately 6.0 %. As of 31 October 2017, the Company will have cash balances of approximately SEK 75 million (as well as an undrawn overdraft facility of SEK 15 million).
ZetaDisplay has entered into an agreement with a Nordic bank regarding the refinancing of loans representing most of the group’s total interest-bearing debt. The new agreement involves loans totalling SEK 120 million.
‟Through the new financing agreement, we are reducing our financing expenses significantly, while at the same time increasing our credit headroom. This increases our financial flexibility since we are releasing liquidity which we can use either in value-creating investments in existing operations or for new acquisitions, or a combination of the two”, says Leif Liljebrunn, CEO of ZetaDisplay AB (publ).
ZetaDisplay is a leading provider of Digital Signage to major chains within the retail and service industry. The Company has more than 130 employees and sales offices in Sweden, Denmark, Norway, Finland, Estonia and Holland.
ZetaDisplay is a leading supplier of Digital Signage to major chains in the retailing and service sectors of the European market. The head office is in Sweden and there are sales offices located in Denmark, Norway, Finland, Estonia and the Netherlands. Since April 2011 the company’s shares have been traded on NASDAQ OMX First North Premier, using the ZETA abbreviation. The Certified Adviser is Erik Penser Bank. More information can be found at https://www.zetadisplay.com.
About Digital Signage and multi-channel communication
ZetaDisplay defines Digital Signage as a system for advertising, profiling and retail store communication, which forwards audio, images and film related to retail stores and information in the public environment. A Swedish name for Digital Signage translates as digital retailing communications. Solutions based on digital displays form a large part of the market, but development is proceeding towards the utilisation of more digital channels to communicate customer offers and other information. This is a matter of solutions that are integrated into social media and web sites, and apps for smart mobile phones and tablets which create interaction with customers. Development is also progressing towards integrating solutions with retailers’ cash desks for automatic price updating and the automatic switching of offers on the digital displays.