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Latest Satellite News Discussion, New FastTV plans emergency rights issue at General Satellite News forum; FastTV plans emergency rights issue By Julian Clover | May 8, 2009 Swedish IPTV outfit FastTV has announced plans to ...

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Thumbs up New FastTV plans emergency rights issue - 08-May-2009, 14:40

FastTV plans emergency rights issue

By Julian Clover | May 8, 2009

Swedish IPTV outfit FastTV has announced plans to call an extraordinary general meeting ahead of a proposed rights issue.
In a statement the company said the issue was required to ensure its capital needs were met until such a time as it had a positive cashflow.

In March FastTV sold the remaining 51% of its Danish operations to local partner A + Holding. Although the move has saved FastTV a monthly SEK 500,000, the sale resulted in a negative equity in the Swedish parent company.

FastTV is also renegotiating with its suppliers with a view to further improve the balance sheet.


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