- Interest rate: Attract shall always accrue at eleven.5% per year.
- The latest restructuring payment: On delivery out of a modification and you will restatement contract, a one-off reorganizing percentage out of EUR 2 hundred,000 is going to be placed on the main amount the beneath the Kreos Financing as of , and that should accrue interest on interest along with accordance towards the regards to the Kreos Loan up until payment.
- Hive-Down: Any Hive-Off are going to be enabled, but at the mercy of certain arranged conditions, along with with respect to Kreos’s established earliest ranking safeguards over all this new possessions the company and its subsidiaries, together with mental possessions.
- Kreos Conversion process: If the Business otherwise DSRCo raises collateral otherwise a modifiable otherwise exchangeable resource pursuant in order to an effective Hive-Off Coming Funding, EUR 1,000,000 away from dominant amount a fantastic beneath the Kreos Loan should be turned into shares otherwise modifiable or exchangeable debt out-of DSRCo during the mutatis mutandis the same terminology.
- Panel observer: A real estate agent regarding Kreos shall be appointed because the a panel observer contained in this 10 business days from admission into a modification and you can restatement arrangement.
- Monetary covenant: Pursuing the satisfaction of your own requirements to your expansion of your Last Installment Big date away from , the organization will make certain that it retains enough dollars runway up to and you may as well as .
Because hereof, the latest board regarding administrators of your own Business applied the process of Article 7:97 of one’s Belgian Companies and you can Associations payday loans Fayette Password about the the brand new approval of one’s Modifiable Connection Financing
The business and inserted to the amendments in relation to (i) this new EUR 4,3 hundred,000 partially convertible financing with PMV Standaardleningen NV (previously also known as PMV/z Leningen NV), (ii) the latest EUR 2,000,000 mortgage having Belfius Insurance NV, and you may (iii) new EUR eight hundred,000 loan which have Sensinendments for the these money add (a) an increase of your own applicable interest rates not as much as all the related mortgage arrangements with 1.0% yearly and you can (b) including a conversion right allowing all these loan providers to transform most of the numbers a great below the financing to the shares of Organization on a conversion rate comparable to brand new arithmetic average of your each day volume weighted average trading price for every single share of one’s Businesses shares replaced to the Euronext Brussels throughout thirty (30) successive working days stop towards (and you may plus) the 3rd trading time up until the time about what the firm has already established new guarantee sales exercise notice, without a cost savings from twenty-five%.
The second data is provided pursuant to help you Article 7:97, §4/hands down the Belgian Companies and Associations Password concerning the the new Convertible Connection Financing provided by the Couples in Equity, EQT, GRAC and you can Rosetta Resource towards the Team
Partners from inside the Security, EQT and you can Rosetta Financial support are shareholders of your own Business and are generally represented into the board out-of administrators of your own Team. This means that, each of them could be considered as good “related party” when you look at the concept of brand new Globally Economic Revealing Conditions, because the implemented of the European union (IFRS), due to the fact regarded in the Post eight:97 of your Belgian Enterprises and Associations Code. Ids van der Weij (a manager, representing Couples for the Equity), Rudy Dekeyser (a director, representing EQT) and Kenneth Macleod (a manager, symbolizing Rosetta Financial support) failed to be involved in the newest deliberation and you can voting of the panel out of directors when considering the fresh new acceptance of one’s stepping into of related mortgage preparations.
Inside the framework of one’s aforementioned techniques, before announcement and finalizing of your Modifiable Connection Loan records, a panel away from about three separate administrators of your own Team (brand new “Committee”) provided a suggestion to your panel away from directors where the Committee reviewed the getting into of your own Modifiable Link Loan.
