Change in financial calendar
2012-10-31 21:54:48
Nio Inc. ("Nio" or the "Company") announces today
that the Company has moved its Q3 2012 report forward
to 15 November 2012 from the previously announced 20
November 2012.
Starting this quarter, Nio will host presentations of
its quarterly results. An invitation to a
presentation of the Q3 2012 results will be released
shortly.
NIO has previously guided for revenues of USD 22-25
million and an EBITDA of around USD 10 million for
2012 and these expectations have not changed after
collecting preliminary figures for Q3 2012.
Measures to increase awareness and share liquidity
In December 2011, Nio acquired Flamingo Intervest Ltd
with settlement in new Nio shares. As a result, the
previous owners of Flamingo Intervest Ltd
(the "Flamingo Shareholders") became significant
shareholders in the Company, currently holding just
below 55% of the shares in the Company combined.
Nio and the Flamingo Shareholders have since then had
an understanding that it would be beneficial for the
Company that they at some point in time should reduce
their shareholding somewhat in order to increase the
absolute and relative free float in the Company's
shares and at the same time allow the Flamingo
Shareholders to capitalise on a relatively small
portion of their holding in NIO. In this respect, the
Company and the Flamingo Shareholders have engaged
Carnegie as financial advisor to assist in marketing
efforts and dialogues with potential investors.
For further information, please contact: Tore Formo,
CFO, Nio Inc. +47 91 66 86 78
Nio Inc. owns and operates an Internet auction site
that offers a unique and entertaining way of Internet
auction shopping. Nio also helps protecting life and
property through the development and sales of
sophisticated video surveillance solutions. Nio Inc.
is headquartered in the United States and listed on
the Oslo Stock Exchange (ticker: NIO).