Llama Group's Strategic Moves: A New Chapter in Azerion Settlement
Tuesday, Jan 28, 2025 12:42 pm ET
3min read LLAMA GROUP (Paris: ALLAM) (Brussels: ALLAM) has announced an addendum to the settlement agreement originally concluded with Azerion in June 2024. This addendum reflects mutual agreements between the parties and updates the terms of the settlement. The key aspects of this addendum are as follows:
1. Prepayment of €1,350,000 against the maximum guarantee: Azerion will make a prepayment of €1,350,000 against the maximum guarantee to LLAMA GROUP on 24 January 2025. This payment is expected to take place on the aforementioned date.
2. Reduction in the maximum guarantee: The maximum guarantee will be reduced from €7,054,780 to €6,554,780. This reduction reflects the updated terms of the settlement agreement between the parties.
3. Extension of the time period for calculation of the previously agreed price guarantee: The time period for calculation of the previously agreed price guarantee has been extended to 31 December 2025 from the original deadline of 31 December 2024. This extension provides LLAMA GROUP with more time to assess the value of Azerion shares, which are subject to the new value sharing mechanism.
4. Llama Group's shareholding in Azerion: As of today, LLAMA GROUP holds 1,166,606 shares of Azerion. This shareholding is subject to the new value sharing mechanism related to the value of Azerion shares.
The addendum to the settlement agreement between LLAMA GROUP and Azerion reflects the parties' mutual commitment to resolving their legal claims and moving forward. The prepayment, reduction in the maximum guarantee, and extension of the time period for calculation of the price guarantee all contribute to a more stable and predictable financial environment for LLAMA GROUP. The company's shareholding in Azerion also provides an additional layer of exposure to the Azerion share price, which has been volatile in recent months.
In conclusion, the addendum to the settlement agreement between LLAMA GROUP and Azerion represents a significant step forward in their relationship, with both parties benefiting from the updated terms. The prepayment, reduction in the maximum guarantee, and extension of the time period for calculation of the price guarantee all contribute to a more stable and predictable financial environment for LLAMA GROUP. The company's shareholding in Azerion also provides an additional layer of exposure to the Azerion share price, which has been volatile in recent months. As LLAMA GROUP continues to develop its offerings and achieve its roadmap, this agreement allows the company to focus on its core competencies and growth prospects.
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