Ebusco's shareholders, including founder Peter Bijvelds, approved a EUR 36 million share issue to support a turnaround plan aimed at avoiding bankruptcy.
Despite shareholders backing a rescue plan, dwindling share prices present a significant challenge in raising sufficient equity to satisfy mounting debts and production penalties.
Investor sentiment remains skeptical; representatives of the VEB association question the repeated promises of turnaround, citing a track record of unmet expectations over three years.
Ebusco's operational struggles are compounded by a substantial debt of €33 million and a significant loss in share value since its public offering in 2021.
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