MyBucks - Continued efforts to turn the business around

In June MyBucks (MBC) announced it had successfully completed its restructuring, conducting further business disposals to reduce its debt burden. This was accompanied by several management board changes, including the departure of Timothy Nuy (CEO) who was hired last year to lead the restructuring process. Meanwhile, MBC had postponed the publication of its interim results (now scheduled for September) while its major shareholder (Ecsponent) is facing financial challenges that are partially related to MBC’s underperformance. The latter could potentially limit further equity injections if MBC requires additional funding.