December 22th - 2004
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Mandriva raises 3.05 million euros, negotiates debt retirement |
Moreno Valley, CA; Paris, France; December 22, 2004. Mandriva closed a 3.05 million euros increase of capital via subscription for 508,333 new shares at 6 euros per share, an increase in shares of 10.58%. Shares outstanding are now 5,312,889.
Independently, Mandriva negotiated the retirement of 1.45 million euros of debt via one time cash payments totaling 0.51 million euros, or 35%. This transaction adds 0.78 million euros to shareholder equity.
Combined with retained earnings, the acquisition of Edge-IT, the negotiated retirement of debt (including that which was announced previously), and the share subscriptions, shareholder equity has gone from a 3.73 million euros deficit in March 2004, to the current positive 1.97 million euros. This satisfies a prerequisite for the transfer from the Marché Libre to a larger Euronext market.
The strengthened balance sheet reinforces Mandriva's capacity to grow both organically and externally toward the corporate market.
About Mandriva
Mandriva is a leading Linux and Open Source Software (OSS) editor. (OSS source code is freely accessible according to the GPL, the General Public License). Mandrivasoft develops and distributes the Mandriva Linux operating system. Hundreds of developers around the world contribute to the continuous improvement of the product via Internet and contribute to its internationalization (with more than 67 languages available). The company also provides related on-line and off-line services including consulting, education, support, and the Mandriva Club.
Mandriva has offices in France, USA and Canada. Since July 30th , 2001, the company is listed on Euronext Marché Libre and OTC US
Euronext: ISIN: FR0004159382, Mnemo: MLMAN, Reuters: MAKE.PA, Bloomberg: MLMAN FP
Pink Sheets: MDKFF
Number of shares : 5,312,889
Contact Mandriva
Jacques Le Marois/ Thierry Bossut
investors @ mandrakesoft . com
For additional information: mandriva.com/company/investors/newsletter
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