The board of Norden Estates intends to propose to the annual general meeting a directed debt conversion issue of approximately SEK 1.3 million, according to a press release. The purpose is to reduce debt, strengthen the balance sheet and increase financial flexibility.The issue comprises approximately 2.29 million shares at a subscription price of SEK 0.5516 per share, based on the volume-weighted average closing price during the ten immediately preceding trading days. In total, SEK 1.26 million will be converted."The debt conversion issue is a strategic step that strengthens Norden Estates' financial position. Through a more efficient capital structure, we improve our ability to continue developing the business and creating long-term value," says Mikael Modig, CEO of Norden Estates, in a comment. Among the creditors are Kamojo Invest, EM Holding via Sälshögs Gård, board chairman Jonathan Karlsson, the CEO via Braveflix and Market and Communication Officer Monika Karlsson. Dilution will be 5.2 percent.