InCoax recognizes that the ongoing Covid-19 pandemic has affected the Company’s customers, especially within hospitality and smaller operators, and that the customers’ tendency to place orders have decreased. In order to meet the reduced demand, the Company has initiated work to reduce the Company's costs. As a result, InCoax will initiate negotiations with its employees in order to enter into agreements regarding so called “short-time work”. InCoax is evaluating which impact the Covid-19 pandemic will have on the Company’s business and previously announced financial targets, and will return with an update as soon as possible.
In order to be able to focus on ongoing measures, InCoax has resolved to postpone the annual general meeting to June 30, 2020 (previously intended date for the annual general meeting was May 15, 2020). As a result of the change, the annual report for 2019 will be published on May 15, 2020 (previously intended date for publication was April 3, 2020).
This information is such information as InCoax Networks AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 20:00 CET on April 2, 2020.
For more information:
Jörgen Ekengren, CEO, InCoax Networks AB
+46 73 899 5552