Makheia Group Société Anonyme (ENXTPA:ALMAK) announced a private placement of 3,500 convertible bonds at €1,000 per bond for gross proceeds of €3,500,000 on June 28, 2016. The bonds are convertible into shares which have par value of €1,000. The transaction will include participation from several funds managed by the company Isatis Capital. The bonds have a rate of interest of 4.5% per annum, payable per quarter. The global rate, non-conversion premium included, is 9%. The maturity date of the last tranche is December 31, 2021. The maximum dilution rate in case of conversion is 16% on the basis of the capital after issuance. The board of directors has approved the transaction.