Seamless Distribution Systems AB informs about a breach of financial covenant
Seamless Distribution Systems AB ("SDS") announced today that one of the company's financial covenants has been breached. According to the terms of the company's agreement with the bondholders, SDS shall hold at least SEK 10 million in cash and cash equivalents as of 30th of June 2025. The company's cash and cash equivalents at this date amounted to SEK 3.8 million, which constitutes a violation of this requirement.
Since SDS took advantage of the opportunity to pay lower interest in August and carried out a direct share issue in July, the company is in a solid position in terms of liquidity.
For more information, please contact:
Jens Ålander
Chief Financial Officer
+46 73 095 8269
About SDS
SDS is a Swedish international software company specializing in mobile payment services for mobile operators, distributors, retailers and consumers. SDS ensures that telecom operators can sell talk time, data and ancillary services where SDS products and services handle up to 90% of the telecom operator's sales. Today, SDS has implemented solutions in fintech, advanced analytics and Retail Value Management, and where these products have succeeded, they are transformed into so-called SaaS solutions.
SDS has approximately 267 employees in Sweden, France, Belgium, Romania, South Africa, Ghana, Nigeria, the United Arab Emirates, Pakistan and India. SDS handles more than 15 billion transactions worth over $14 billion annually. Via over 3 million Monthly active retailers of digital products serve, indirectly, more than 1100 million consumers globally.
SDS's share is listed on Nordic SME on the Nordic Growth Market.