The company does not understand why it falls so much on the stock market

"Our shareholders have found that the share price of Lavo.tv had suffered a significant decline since its introduction on the Merkur market in June 2018. The Board does not evaluate the financial position of the company nor the Evolution of its operation so as to explain this decline, "states the company's streaming applications Lavo.tv in a message Tuesday.

"Never be better"

Lavvo was developed by founder Tom Roger Sokki in 2016. In the beginning, he and his colleagues ran the flow application at home from the kitchen counter at home in Bergen. In recent months, the streaming app has been among the most popular free apps in Norway after hundreds of hours of "Paradise Hotel" for the reality-hungry viewers.

Now, Lavo has a sporty profile and has a lucrative deal with Sweden's C More. With the application, Sokki & Co sends directly to the world the highlights of sports events.

After a round of public financing, the company went public this summer with a price of 100 million. It did not go so well. Since the stock market listing, the share price has fallen by 72%. On Monday, Bernhard Steen, CEO, joined the company. He is the fourth shareholder of the company.

– Was it voluntary?

– Yes, yes, Sokki answers.

According to Sokki, Steen did not receive any compensation as part of the termination.

"We are a start-up and it is clear that, now that you are a start-up, you have to try to get the money for as long as possible," he said.

The day after Steen, the company sent a message stating that the board should look for the cause of the sharp fall in stock prices.

"Lavo.tv has never been better placed to create shareholder values," Sokki said in an announcement.

«Dødsspirallån»

Lavvo went public with an account full of borrowed funds in London.

In the British capital, Sokki and Bernhard Steen were presented to Alpha Blue Ocean (ABO). As a result, Lavo received a convertible executive loan divided into tranches. This loan has often been called "ready to die".

Lavvo wants to investigate to find out there is nothing wrong with this loan deal.

Alpha Blue Ocean has similar agreements with the listed mining company Element and the computer company Induct, which fell by 58% and 29% respectively this year.

Sokki acknowledges that they did not have much information about ABO, other than the fact that the fund initially contributed to a sharp rise in Element's share price.

"We had the impression that this company had a long-term investment perspective, and when we met with them and introduced Lavo to these young financiers, we felt that they understood very well our business. business, says Sokki.

"We can suspect everything"

Sokki will not comment on what he thinks of Alpha Blue Ocean.

"You can suspect anything, but we are subject to regulatory conditions with Oslo Børs We have full confidence in the system and facilities around us, but in the light of Induct's message, we want to do some research to make sure something is not right, he says.

This happened in Induct: The computer company Induct announced Friday that it had reason to believe that a fund via Alpha Blue Ocean had broken the law by converting loans into shares under the loan agreement signed in late October. The company requested information from the Fund, but it declined and reserved the right to claim compensation for the Fund's opinion regarding the Intron.

"When the price of the stock goes down so much that nothing happens in the store, I'm really happy that the board is conducting the investigations," says Sokki about his own Lavo.tv.

The action of Lavo.tv made an offer after the announcement by the company Tuesday to conduct investigations.

Agreement with C More

The contractor says he knows it's about spiraling death loans, but added that the company was not listed on the stock exchange without this deal.

"One might wonder what would be the best form of funding, but it's not always up to the company to decide what will help a greenhouse business," he says.

Lavvo, despite falling stock prices, has clearly agreed to sign a very good agreement with Swedish C More. The agreement gives Lavo the right to broadcast live highlights of the coming season on the best teams in Swedish football and ice hockey, Allsvenskan, the Swedish Hockey League and Allsvenskan Hockey.(Conditions)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our business using a link directly to our pages. The copy or any other form of use of all or part of the content may only be done by written authorization or as permitted by law. For other terms please see here.