Terms for Livescribe payment now agreed
Lund, 30 January 2009 - The previously announced negotiation with Livescribe
concerning an unpaid amount of 2.5 MUSD that became due December 31, 2008 has
now been agreed. Livescribe's debt has been converted to SEK 20.075.000.
Livescribe has secured additional funding of 10.175 MUSD and shall pay the debt
to Anoto gradually over the next 22 months, starting when Livescribe has
secured additional funding exceeding 12 MUSD (including the 10.175 MUSD already
secured), but in no event later than November 30, 2010. Interest will accrue on
the debt. As security, Anoto has received collateral in Livescribe.
The debt was the remaining payment from the agreement early 2007 between
Livescribe and Anoto, when Anoto phased out its operations in the US,”Content
and Applications”, by transferring the business unit to Livescribe Inc.
For more information:
Anders Norling, CEO
Anoto Group AB
+46 733 45 14 98
Anoto Group AB may be required to disclose the information provided herein
pursuant to the Securities Markets Act. The information was submitted for
publication at 09.45 am on January 30th, 2009.
Anoto Group AB
Anoto Group is the company behind and world leading in the unique technology for
digital pen and paper, which enables fast and reliable transmission of
handwritten text into a digital format. Anoto operates through a global partner
network that focuses on user-friendly forms solutions for efficient capture,
transmission and storage of data within different business segments, e.g.
healthcare, bank and finance, transport and logistics and education. The Anoto
Group has around 110 employees, offices in Lund (head office), Boston and
Tokyo. The Anoto share is traded on the Small Cap list of the OMX Nordic
Exchange in Stockholm under the ticker ANOT. For more information:
www.anoto.com
