- Interest: Attention will continue to accrue on eleven.5% per annum.
- The brand new restructuring fee: Through to execution of an amendment and you may restatement agreement, a single-out-of restructuring percentage out of EUR 2 hundred,000 will likely be put on the main amount a fantastic within the Kreos Loan since , and that will accrue interest during the interest as well as in accordance with the regards to the Kreos Loan until payment.
- Hive-Down: Any Hive-Off can be permitted, but at the mercy of particular agreed conditions, and regarding Kreos’s present first ranks security total the newest possessions the organization and its particular subsidiaries, also intellectual assets.
- Kreos Conversion: Whether your Business or DSRCo brings up collateral or a convertible or exchangeable investment pursuant in order to good Hive-Down Upcoming Investment, EUR step one,000,000 regarding dominating amount a great beneath the Kreos Mortgage will likely be changed into shares or convertible or exchangeable debt off DSRCo at mutatis mutandis a similar words.
- Board observer: A representative of Kreos are going to be appointed due to the fact a section observer inside ten business days out of entryway into the an amendment and you will restatement contract.
- Financial covenant: Adopting the satisfaction of your criteria on expansion of your own Latest Cost Date out-of , the organization should make certain that they maintains enough dollars runway upwards so you’re able to and in addition to .
Because hereof, brand new board from directors of your Business used the procedure of Blog post 7:97 of Belgian Enterprises and you can Connections Password in connection with new approval of Convertible Connection Loan
The firm along with inserted into the amendments in relation to (i) the brand new EUR 4,3 hundred,000 partly convertible mortgage with PMV Standaardleningen NV (previously also known as PMV/z Leningen NV), (ii) this new EUR 2,000,000 bank loans for bad credit Belle Fontaine mortgage which have Belfius Insurance coverage NV, and you will (iii) the new EUR eight hundred,000 loan that have Sensinendments towards these types of fund include (a) a growth of one’s applicable rates of interest under all the associated financing plans having 1.0% yearly and you can (b) and a conversion process proper enabling all these lenders to convert every quantity outstanding not as much as the mortgage towards the offers of your Team within a conversion speed equal to new arithmetic average of one’s everyday regularity weighted mediocre trade rate each display of your own Company’s offers traded towards Euronext Brussels throughout 30 (30) straight trading days ending with the (and you will together with) the 3rd trading big date before the time about what the firm has received the security transformation do so see, minus a savings out-of twenty-five%.
The next information is given pursuant so you can Post seven:97, 4/1 of the Belgian Companies and you may Associations Code in connection with the Convertible Bridge Mortgage supplied by Partners inside the Equity, EQT, GRAC and Rosetta Investment towards the Company
People into the Guarantee, EQT and you may Rosetta Financing is actually investors of your own Company and therefore are portrayed for the board of administrators of Business. As a result, each will be considered as a beneficial „related team” during the concept of brand new Internationally Economic Reporting Criteria, as adopted by the European union (IFRS), because described into the Article 7:97 of Belgian People and you may Contacts Code. Ids van der Weij (a director, representing Partners for the Security), Rudy Dekeyser (a manager, symbolizing EQT) and you will Kenneth Macleod (a movie director, symbolizing Rosetta Financial support) failed to take part in the brand new deliberation and you may voting because of the board out of directors about new recognition of the getting into of one’s associated mortgage preparations.
For the framework of one’s the latter processes, before announcement plus the finalizing of your Convertible Connection Loan paperwork, a committee out of about three separate directors of your own Providers (the brand new „Committee”) provided a suggestion into board out-of directors where in actuality the Panel analyzed the new entering into of one’s Modifiable Connection Mortgage.
