Cyber Security 1 AB (Publ) (Nasdaq First North: CYB1) has today lodged an application for the extension of the Company’s reconstruction proceedings for an additional three months.
CYBER1 has been taking proactive steps to complete the reconstruction and has now enlisted financial advisors with operations in Stockholm to provide a comprehensive financial funding package to address the situation. To accomplish this the advisors will liaise with the administrator, creditors and other key stakeholders.
With the appointment of the financial advisors, CYBER1 and the existing administrator have reached an agreement for a new administrator to be appointed. Accordingly, CYBER1 has requested that the court appoints Marcus Wenner, of 180 Grader, as the new administrator for the reconstruction proceedings.
CYBER1 now believes it has the right team in place to expedite the reconstruction proceedings in a manner that best serves our creditors and shareholders.