Capelle aan den IJssel,
The loan, with a principal amount of €1,27 million per
An overview of the other terms that were agreed upon:
- At the maturity date and at the choice of the lenders, the loan can be settled (i) by the conversion of (the initial principal amount + cumulative PIK interests) into newly issued ordinary shares of
GeoJunxion NV , using a conversion rate of €1.50, or (ii) by payment in cash of 125% of (the initial principal amount + cumulative PIK interests). - Renegotiation trigger: Should the share price trade below €1,50 or the 60-day moving average share price be below €1,50 on
3 May 2023 (3 months prior to maturity), the conversion rate can be renegotiated in good faith. - The loan can no longer be voluntarily prepaid.
- Change to the control clause, which refers to the loan becoming due immediately, can also be triggered in case (i) Euronext initiates proceedings to delist and (ii) a new significant shareholder notification is received with holdings >30%.
Ivo Vleeschouwers, the company’s CEO stated: “I am pleased with the ongoing support from the holders of the loan, who are also shareholders in the company. It is a true testimony of their confidence in the company, in its updated strategic direction and the entire team, who has been working hard every day to turn the company around, generate new growth and improve results."
Signed by
The Management Board
Ends
About
GeoJunxion Press Contact
Tel: +31 (0)10 885 1200
Email: caroline.bombart@geojunxion.com
© OMX, source