Key Developments: Nio Inc (NIOS.OL)

NIOS.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Nio Inc says Robert Rong and close associates reduce holding in Nio to 11.89 pct
Thursday, 25 Sep 2014 11:05am EDT 

Nio Inc:Says Robert Rong and close associates has transferred his part of a loan to Nio, including the right to convert the loan into 6,600,000 shares in Nio at a conversion price of 0.50 Norwegian crowns.Says after this transaction, Robert Rong and close associates has reduced its holding of shares in Nio including warrants and conversion rights from 16.06 pct to 11.89 pct of the outstanding shares in Nio.  Full Article

Nio Inc's Candid Gaming Ltd. enteres into agreement with Net Entertainment
Thursday, 25 Sep 2014 02:21am EDT 

Nio Inc:Says Nio Inc's subsidiary on Malta, Candid Gaming Ltd. has entered into a Software License Agreement with Net Entertainment.Says Candid Gaming will start its casino operations under a white label solution by end of year.Says this is according to plan.  Full Article

Nio Inc to set up a new internet gaming entity on Malta with Gaming Innovation Group Ltd
Tuesday, 19 Aug 2014 02:18am EDT 

Nio Inc:Says entered into a memorandum of understanding with Gaming Innovation Group Ltd. (GIG), to set up a new internet gaming entity on Malta.Gaming Ltd. will be owned 73 pct by Nio, 24.5 pct by GIG and 2.5 pct by its CEO.Says necessary funding for new entity is expected to be less than 1 million euros and will be handled without any external funding.  Full Article

Nio pays NOK 12 mln in own shares for trading systems from Zenit Statistics
Tuesday, 22 Jul 2014 02:23am EDT 

Nio Inc:Says has entered into deal with Zenit Statistics to purchase trading systems and related deals for trading purposes in sports betting markets.Says purchase price is 12 million Norwegian crowns and will be paid by 24 million Nio shares at a share price of 0.50 crown per share.Says no new shares will be issued.Says following completion of the transaction, Nio will reduce its holding of own shares from 33.13 percent to 18.13 percent.Says expects this operation to generate a yearly profit of minimum 3 million crowns going forward.Says will incorporate a wholly owned Maltese subsidiary for the transaction, which will specialize in calculating odds and manage risk for sports betting.  Full Article

Nio names Helge Nielsen Chairman
Thursday, 22 May 2014 06:20am EDT 

Nio Inc:Elects Helge Nielsen Chairman of the Board.Helge Nielsen is new to the company.  Full Article

Nio Inc. announces CEO resignation
Monday, 5 May 2014 02:36am EDT 

Nio Inc:Announces resignation of Brian Palm Svaneeng Mertz, Chief Executive (CEO) of the company, effective May 5.Says Nio's Chairman, Kjetil Aasen will become the new CEO.  Full Article

Nio and Gaming Innovation Group to set up internet gaming entity on Malta
Friday, 11 Apr 2014 02:13am EDT 

Nio Inc:Enters Memorandum of Understanding with Gaming Innovation Group Ltd to set up a new internet gaming entity on Malta.Nio will own 73 percent, GIG 24.5 percent and the new managing director 2.5 percent in the new Maltese limited liability corporation.Shareholder agreement regulating cooperation between the parties is yet to be signed.Says necessary funding of the new entity is expected to be less than 1 million euros and will be handled by GIG and Nio without any necessary external funding.As a result forming the new entity, Nio has terminated operations on Panda365 and will consider the future strategy for its existing internet gaming operations on Luna Casino.  Full Article

Nio Inc Announces New Chairman
Tuesday, 12 Nov 2013 02:36am EST 

Nio Inc announced that the Board of Directors of the Company has elected Mr. Kjetil Myrlid Aasen as new Chairman of the Board. Nio's former Chairman, Mr. Ole Sigetty has resigned from his position due to time constraints from his practice as a lawyer. Mr. Kjetil Myrlid Aasen joined Nio's Board of Directors in September 2013.  Full Article

Nio Inc Issues H2 2013 EBITDA Guidance; FY 2014 EBITDA Guidance in Line with Analysts' Estimates
Tuesday, 8 Oct 2013 02:31am EDT 

Nio Inc announced that the problems with payment providers earlier during 2013 have had a negative impact on the Company's overall operations. Therefore, the result for the fiscal year 2013 will not be satisfying, and the EBITDA for the second half (H2) of 2013 is expected to be somewhat lower than for the first half (H1) of 2013. However, with the controlled growth strategy, customer approach and expected return to more normal operational levels for the auction sites during the fourth quarter of 2013, EBITDA for the fiscal year 2014 is expected to be better than what was achieved in the fiscal year 2012 where the EBITDA was USD 9.4 million. According to I/B/E/S Estimates analysts on average are expecting Nio to report EBITDA of USD 18.60 million for the fiscal year 2014.  Full Article

Nio Inc Issues New Shares as Part of New Financing Consisting of New Shares, New Loan Facility and Conversion of Debt to Shares
Tuesday, 3 Sep 2013 10:31am EDT 

Nio Inc announced that it issued on September 3, 2013 a total of 9,050,643 new shares of its common stock in connection with the new financing. Nio's share capital has increased from USD 15,092,431 to USD 15,997,495, and the number of outstanding shares has increased from 150,924,309 to 159,974,952 (par value USD 0.10). The Company plans a new financing through a combination of a share issue, a new loan facility and conversion of debt to new shares.  Full Article

BRIEF-Nio Inc Q3 revenue down to $529,000

* Q3 pretax loss $359,000 versus loss $2.5 million Source text for Eikon: Further company coverage:

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