General information on the company's activity, in particular the liquidation of the legacy business and the reduction of expenses
Paris, 18.09.2024 at 08:45
AVENTADOR (Euronext Growth Paris, Ticker: ALGRE- ISIN: FR001400IV58) holding company listed on Euronext-Growth Paris market, announces that the Lyon Commercial Court, at the hearing held on September 3, 2024, ordered the liquidation of "Naka", a 51%-owned subsidiary. The same court, at the hearing of September 11, 2024, also ordered the liquidation of "Les Toques Blanches du Monde", a wholly-owned subsidiary. At the hearing of September 17, 2024, held at the Villefranche sur Saône Commercial Court, the opening of a judicial recovery with a plan for the sale of "Unis Fish and Food", a wholly-owned subsidiary, was requested, as several buyers had expressed their intention to buy this company.
As announced in the press releases of June 10 and 19, the new management of Aventador does not wish to continue financing unprofitable companies. These divestments allow Aventador to clean up its accounting situation and to no longer resort to dilutive financing to cover losses.
Various cost-cutting and savings measures have also been taken. The previous management's employee and consulting contracts have been terminated. It should be noted that the new chairman does not pay himself any remuneration for his term of office, and that the new CEO's remuneration is limited to €1,926 gross per month. Similarly, head office costs have been drastically reduced by using a business centre. All of these measures together result in significant savings of around €1,162,504.
After signing a first letter of intent to acquire a profitable company (press release of September 4, 2024), a second acquisition in Europe, in the field of sports is underway. A third acquisition in France, in renewable energy industry is under discussion.
About AVENTADOR
Aventador (formerly Algreen) is a holding company specializing in the management, development and financing of profitable companies. With an approach focused on sustainable growth and supporting companies with a clear strategy, Aventador actively supports the development of the companies in its portfolio to increase their value, in particular through various financial, accounting, tax, legal and IT optimization processes.
Contact : investors@aventadorholding.com
AVENTADOR (Euronext Growth Paris, Ticker: ALGRE, ISIN: FR001400IV58)
www.aventadorholding.com
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