Bankruptcy Application – Ayima Group AB

The Board of Directors of Ayima Group AB (“Ayima”) has today decided to apply to put the Company into bankruptcy. The bankruptcy application will be submitted to Stockholms District Court (Stockholms Tingsrätt) today, June 14, 2024

The board held an emergency meeting today to consider the financial position of the group. The conclusion of the board is that the parent company, White Pearl Technology Group (“White Pearl”), does not have the financial resources readily available to support Ayima’s immediate or long term operating cash requirements. The board has also determined that Ayima’s own financial resources are also insufficient, that the situation is not temporary and that all potential emergency funding options have been exhausted. It is the board’s ultimate conclusion that Ayima is therefore unable to service its creditors or repay its debts to its lenders and it has no option other than to apply for bankruptcy.