The trading company Magma has announced that it has engaged an independent advisor who will collaborate with the Management to develop and oversee the implementation of the operational and financial restructuring program of the company and that it is in intensive negotiations with potential investors who have expressed interest in participating in the company’s operations.
In a statement published via the Zagreb Stock Exchange, Magma emphasizes that the Magma Group has faced many difficulties throughout the year, which were primarily due to reduced consumer spending at the beginning of the year, and during the third quarter were primarily the result of constrained liquidity and limited possibilities of securing an adequate level of working capital necessary for the regular financing of the company.
Faced with this situation, the company’s Management has decided to undertake a series of activities to ensure the stabilization of operations in the shortest possible time, the statement notes, adding that the company has engaged an independent advisor who will collaborate with the Management to develop and oversee the implementation of the operational and financial restructuring program. “The program will be finalized within the next two weeks, after which its implementation will follow. The purpose of the program is to undertake additional measures that will ensure operational profitability for the company in a relatively short period and enable stable operations,” the statement emphasizes.
