Alan Allman Associates announced a private placement of convertible bonds for gross proceeds of €1 million on May 12, 2022. The transaction will include participation from Negma Group Ltd. The convertible bonds will bear no interest and will have a maturity of 12 months from their issue. The investor may convert the bonds at any time in to the common shares of the company within a period of one year following the issue. The transaction has been approved in the Extraordinary General Meeting under the terms of its 18th resolution. The convertible bonds will not be listed on Euronext Paris market. The investor maximum commitment period is 24 months from today.

On the same date, the company has received €250,000 in its first tranche.