Ortelius International AB (publ) publishes second balance sheet for liquidation purposes showing that equity exceeds registered share capital.
Ortelius International AB (publ) publishes second balance sheet for liquidation purposes showing that equity exceeds registered share capital.
Ortelius International AB (publ) ("Ortelius" or the "Company") has, in accordance with Chapter 25, Section 16 of the Swedish Companies Act (Sw. Aktiebolagslagen), prepared a second balance sheet for liquidation purposes (kontrollbalansräkning), which has been reviewed by the Company's auditor. The balance sheet shows that the Company's equity exceeds its registered share capital. The balance sheet will be presented at the Annual General Meeting,which also consitutes the Company’s second control meeting on 31 July 2026.
During 2025, the Company prepared a balance sheet for liquidation purposes indicating that its equity had fallen below half of the registered share capital. This situation arose as a result of the group restructuring implemented in connection with the reverse acquisition between ELLWEE and Ortelius.
At the Extraordinary General Meeting held on 3 December 2025, which also constituted the Company's first control meeting, it was resolved that the Company should continue its operations. Pursuant to the Swedish Companies Act, a second control meeting must be held within eight months of the first control meeting. Consequently, the Annual General Meeting to be held on 31 July 2026 will also constitute the Company's second control meeting.
"We are very pleased that the second control meeting can now be held following a balance sheet for liquidation purposes showing that the Company's equity has been fully restored. This allows us to focus on what matters most: strengthening our financial position, developing the business, and creating long-term value for our shareholders." – Herman Weberg, Interim CEO of Ortelius International AB (publ).
The second balance sheet for liquidation purposes demonstrates that the Company's equity has been fully restored in relation to the registered share capital. Accordingly, at the Annual General Meeting on 31 July 2026, which also constitutes the Company's second control meeting, the Board of Directors intends to propose that the Company continues its operations.
The second balance sheet for liquidation purposes will be made available on the Company's website, www.ortelius.com.