The unfortunate liquidation procedure against Genoma SA, ruled on May 4th 2017, for which an appeal is still pending, has triggered the obligation to repay Esperite note holders within 15 business days.
The board has on May 26th 2017 proposed and negotiated the possible issuance of new notes to repay the note holders.
The note holders, Educe Capital and Frederic Amar, have agreed their notes, for a total amount of EUR 3'125'000, to be repaid by the issuance of new unsecured convertible loans.
The new unsecured convertible loan notes will bear interest at a rate of 7% per year, payable annually in arrears on 31 December and be convertible into ESPERITE shares according to the initial schedule of the previous notes, until maturity at an initial conversion price of EUR 0.45.
This initial conversion price is higher than ESPERITE's share price at the time the offer was presented to the note holders. The conditions of the new convertible loan notes were discussed and negotiated between the board of directors and Educe Capital. Mr. Frederic Amar was not part of the decision making process and the final decision for his notes.
The new notes will mature on 31 December 2019, unless earlier converted or repurchased, they will not be listed and are subject to shareholders approval.
ESPERITE Group (www.esperite.com), listed at Euronext Amsterdam and Paris (ticker: ESP), established in 2000, is the leading international company in regenerative and predictive medicine, operational in almost 40 countries with a network of 6'000 clinics worldwide. ESPERITE serves clients in its state-of-the-art lab facilities in Switzerland, Belgium, Germany, Dubai, South Africa and Portugal.
To learn more about the ESPERITE Group, or to book an interview with CEO Mr. Frédéric Amar: +31 575 548 998 - firstname.lastname@example.org or visit the website at www.esperite.com.