Rapid Nutrition PLC Successfully Concludes Conversion Agreement, Paving the Way for Strategic Initiatives in 2024
- Final repayment of current outstanding convertible loan facility (COABS)
- Resolution of all outstanding conversion obligations (COABS) with ASO
London, United Kingdom –12 Mar 2024 - Rapid Nutrition PLC (Euronext Growth: ALRPD), is pleased to announce the successful conclusion of its conversion agreement, marking a significant step forward for itself for growth and value creation in 2024 and beyond.
Following the termination of the agreement, Rapid Nutrition has resolved all outstanding conversion obligations (COABS), aligning with the company's strategic vision to streamline its financial structure and optimise its capital position. With this milestone achieved, Rapid Nutrition is now primed to focus on executing its growth initiatives, as recently outlined in previous announcements.
As the company moves forward into 2024, Rapid Nutrition remains committed to pursuing various significant initiatives aimed at enhancing shareholder value and driving sustainable growth within the dynamic nutritional supplements industry.
Looking ahead, Rapid Nutrition will adopt a prudent and disciplined approach to capital management and maintaining a healthy balance between debt and equity to enhance its financial flexibility and capitalise on emerging opportunities in the market.
“As we enter 2024, we are excited to build on this momentum and pursue our strategic initiatives with renewed focus and determination. Our commitment to driving sustainable growth and delivering long-term value to our shareholders remains unwavering," said Simon St Ledger CEO.
Rapid Nutrition remains confident in its ability to navigate the evolving business landscape and capitalize on opportunities that align with its strategic objectives. The company looks forward to updating shareholders and stakeholders on its progress as it continues to execute its growth strategy in the coming months.
About Rapid Nutrition
Rapid Nutrition is a leading health and wellness company committed to providing innovative solutions for a healthier world. With a focus on research-backed formulas, we empower individuals to optimize their well-being and face life's challenges with confidence.
For more information, please visit http://rnplc.com
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This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and or otherwise that involve risks, uncertainties and assumptions that could cause Rapid Nutrition PLCs actual results and experience to differ materially from anticipated results and expectations expressed in these forward-looking statements. Rapid Nutrition PLC has in some cases identified forward-looking statements by using words such as "anticipates," "believes," "hopes," "estimates," "looks," "expects," "plans," "intends," "goal," "potential," "may," "suggest," and similar expressions. Rapid Nutrition PLC undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.
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