Q-linea AB (publ) (OMX: QLINEA) – Q-linea announces today that the company's main owner Nexttobe has granted Q-linea a short-term interest-free loan of a total of SEK 57 million, of which SEK 25 million has now been paid to the company. This loan is provided within the framework of the previously communicated loan facility (amounting to a total of SEK 200 million). Since Nexttobe is considered as so-called related to Q-linea, this loan, together with the total facility, will be addressed at Q-linea's annual general meeting in May 2023.
Q-linea and its main owner Nexttobe are considered related parties, which means that the rules in Swedish Company Act (the “SCA”) chap. 16 a if related party transactions need to be considered when using the loan facility. According to these rules, the general meeting's approval is required for related party transactions that exceed SEK 1 million and 1% of the company's market value at the time of the transaction.
As the current short-term loan is interest-free, the threshold values above are not reached. Provided that the general meeting gives its approval to this, however, the intention is, from the time after the annual general meeting, to apply the same market conditions (and term) as for the remaining facility on the loan in question.