Lamor plans a share placement of at least €5M and seeks covenant relief

what happened

Lamor Corporation Plc, according to TradingView citing a press release distributed by MFN, plans a directed share issue of at least €5M. The proceeds are meant to meet financing conditions and strengthen liquidity. The placement targets domestic investors, and major shareholders have committed €5M. The price is expected to be about 10% below the 30-day volume-weighted average price, and roughly 7.0M new shares are illustratively expected. The board is seeking authorization for up to 10M shares.

Meanwhile, the company is negotiating covenant waivers for 31 December 2026, with a decision targeted by the end of October. Lamor also plans to reset its 2027 covenants. The deal requires shareholder approval at an extraordinary general meeting.

why it matters

For shareholders, a discounted placement and new shares mean possible dilution and short-term pressure on the share price until the deal is completed. If lenders agree to the waivers, the risk of breaching debt terms would fall. Key near-term events are the shareholder meeting and the lenders' covenant decision.

tags

instruments