translation15 Jun 2019 17:43
Under the provisions of Article 17 of Regulation (EU) No 596/2014 on market abuse and in Article 228 of the revised text of the Securities Market Law, approved by Royal Legislative Decree 4/2015, of 23 October, and concordant provisions, as well as in Circular 6/2018 of the Alternative Stock Market (MAB), we inform you of the following Relevant Fact regarding the company EBIOSS Energy, SE.
In relation to the restructuring process that the Company has been reporting to the market in recent months, EBIOSS has signed the binding refinancing AGREEMENT with the bondholders of the Company.
Of the total of 13,053,982 euros of debt with the main bondholder, up to 4 million euros will be converted into capital, which could reach 6 million euros in the next 30 months depending on whether the company closes with positive EBITDA in any year between now and the end of the year 2021. The conversion will be made at the value of one euro per share and the shares will have a one-year sale prohibition period. The rest of the principal bond's debt will be converted into a 7-year loan, at 2% interest and with two years of lack of both principal and interest.
The total of 4,417,165 euros of debt with the second main bondholder will be converted into a 7-year loan at 2% interest and with a two-year grace period of both principal and interest.
The debt of both bondholders will share the same personal and real guarantees according to the percentage that represents the debt of each of them. The Agreement specifies an early amortization clause based on future positive results limited to between 20 and 25% of the distributable profits each year (20% for the first two years and 25% thereafter).
The entry into force of the agreement is subject in a prominent way, among other issues, to the achievement of the Akiles project - of which presentation is attached, which implies a complete strategic reorientation of the group and which will be submitted for approval at the next General Shareholders' Meeting - and the non-distribution of dividends during the first two years, which is the period equivalent to the lack of capital and interest.
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