GLOBAL BIOENERGIES: ISSUE OF ALL WARRANTS (BEOCABSA) TO BRACKNOR INVESTMENT GROUP AND ISSUE OF A SECOND TRANCHE OF CONVERTIBLE BONDS WITH WARRANTS ATTACHED FOR A TOTAL OF ?750,000
(Thomson Reuters ONE) -
Global Bioenergies: issue of all warrants (BEOCABSA) to Bracknor Investment
Group and issue of a second tranche of convertible bonds with warrants attached
for a total of ?750,000
Evry, France and Dubai, United Arab Emirates, 28 October 2016 -
Global Bioenergies (Alternext Paris: ALGBE) today announced the implementation
of the flexible bond financing with Bracknor Investment Group through a private
offering of 14 bond warrants "BEs" on convertible bonds "OCAs" with equity
warrants attached "BSAs" OCAs and BSAs together make up "OCABSAs", and with the
bond warrants are termed "BEOCABSAs." This financing deal had been announced in
a Global Bioenergies press release on 23 September 2016.
As stated in the press release issued on 23 September 2016, Global Bioenergies
issued a first tranche of 20 OCABSAs to Bracknor Investment, with a par value of
?750,000, based on the 8(th) Resolution of the Combined General Shareholders'
Meeting held on 3 June 2015. This press release also stated that, subject to
shareholder approval at today's Extraordinary General Meeting, the next 280
OCABSAs would be issued in 14 tranches of ?750,000 each without pre-emptive
rights for Bracknor Investment Group, on the exercise by Bracknor of its no-cost
bond warrants. These warrants obligate Bracknor to purchase the bonds, subject
to the fulfilment of certain conditions specified in the press release.
The Global Bioenergies Extraordinary General Meeting held today voted in favour
of implementing this financing deal.
By virtue of the delegation of authority granted to the Board of Directors by
the First Resolution of this EGM, and pursuant to Article L. 225-138 of the
French Commercial Code and the contract between Bracknor Investment Group and
Global Bioenergies signed on 22 September 2016, the Board of Directors meeting
on 28 October 2016 voted to issue 14 BEOCABSAs to Bracknor Investment Group.
As part of this financing arrangement, Bracknor today exercised a second bond
warrant resulting in the issue by Global Bioenergies of 20 OCABSAs at ?37,500
par value each, and one OCA at the same par value (without attached warrants),
in payment of the lump-sum commitment fee for this transaction.
The features of the BEs, the OCAs and the BSAs are spelled out in the Global
Bioenergies press release of 23 September 2016, available on www.global-
bioenergies.com. In the event that the share price reaches double the exercise
price of certain BSAs, 80% of these BSAs must be exercised on simple request by
Global Bioenergies. Also on the website, an updated table keeps track of the
bond warrants (BEs), the convertible bonds (OCAs), the equity warrants (BSAs)
and the number of Global Bioenergies shares outstanding.
Note that this transaction does not call for creating a prospectus subject to
AMF approval.
The impact of issuing the 280 OCABSAs and the 14 OCAs (if the maximum ceiling is
reached) on the investment of a shareholder holding 1% of the Company's capital
prior to the issue and not subscribing to the bonds, calculated on the number of
shares comprising the capital at 27 October 2016, would be as follows:
+-------------------------+-------------------------+
Theoretical investment in | On the basis of shares | Basis diluted by |
the capital of the Company| outstanding as of this |instruments issued prior |
| date | to 28/10/2016 |
| (3,232,967) | |
+--------------------------+-------------------------+-------------------------+
|Before the issue of new | | |
|ordinary shares in the | | |
|Company resulting from the| | |
|conversion of all of the | 1.00% | 0.90% |
|OCAs and the exercise of | | |
|all of the BSAs in | | |
|tranches 2 to 15 | | |
+--------------------------+-------------------------+-------------------------+
|FINANCING BY ISSUE OF | | |
|OCABSAs: | | |
+--------------------------+-------------------------+-------------------------+
|Following the issue of | | |
|33,439 new ordinary shares| | |
|of the Company resulting | 0.99% | 0.89% |
|only from the conversion | | |
|of the tranche 2 OCAs | | |
+--------------------------+-------------------------+-------------------------+
|Following the issue of | | |
|15,126 additional new | | |
|ordinary shares from the | 0.99% | 0.88% |
|exercise of BSAs attached | | |
|to the tranche 2 OCAs | | |
+--------------------------+-------------------------+-------------------------+
|Following the issue of | | |
|434,707 additional new | | |
|ordinary shares in the | 0.87% | 0.79% |
|Company from the | | |
|conversion of the OCAs in | | |
|tranches 3 to 15 | | |
+--------------------------+-------------------------+-------------------------+
|Following the issue of | | |
|196,651 additional new | | |
|ordinary shares from the | 0.83% | 0.75% |
|exercise of the BSAs | | |
|attached to the OSAs of | | |
|tranches 3 to 15 | | |
+--------------------------+-------------------------+-------------------------+
The dilution from tranches 3 to 15 was calculated based on the calculations for
tranche 2 issued today, i.e. a volume-weighted average price of ?24.7994. This
dilution does not prejudice either the final number of shares to be issued or
their issue price, which will be set according to the quoted market price, as
set out in the press release of 23 September 2016.
You are reminded that Global Bioenergies suspended its PACEO (equity-line
contract) with Société Générale on 23 September 2016.
François-Henri Reynaud, CFO of Global Bioenergies, explains: "This new financing
secures the Company's cash at least until the end of the Bracknor contract,
while also improving share liquidity."
Marc Delcourt, CEO of Global Bioenergies, states: "Flexible financing is a good
match for our current situation, with the company growing rapidly in an
improving macro-economic environment."
CEO of Bracknor Investment, Pierre Vannineuse, notes: "This second tranche of
the total financing continues our relationship with Global Bioenergies. We are
extremely satisfied with progress thus far. Following this approval by the
General Meeting, we are committed to proactively supporting the company's growth
in the long term."
About GLOBAL BIOENERGIES
Global Bioenergies is one of the few companies worldwide, and the only one in
Europe, that is developing a process to convert renewable resources into
hydrocarbons through fermentation. The Company initially focused its efforts on
the production of isobutene, one of the most important petrochemical building
blocks that can be converted into fuels, plastics, organic glass and elastomers.
Global Bioenergies continues to improve the performances of its process,
operates its industrial pilot, is completing the construction of its demo plant
in Germany, and prepares the first full-scale plant through a Joint-Venture with
Cristal Union, named IBN-One. The company also replicated its achievement to
propylene and butadiene, two members of the gaseous olefins family, key
molecules at the heart of petrochemical industry. Global Bioenergies is listed
on Alternext, Euronext Paris (FR0011052257 - ALGBE).
Should you like to be kept informed, subscribe to our news feed on
www.global-bioenergies.com
About Bracknor
Bracknor Capital Ltd is the Investment Manager platform of Bracknor Investment
(A Dubai UAE incorporated investment vehicle). Bracknor's mandate is to invest
globally in SMEs that bears unique competitive advantages and true potential,
providing them with paramount working capital or growth capital needed to foster
and ignite their growth.
Bracknor, through its Chairman, Mr Aboudi Gassam, is backed up by the Saudi
Group MS Group (Jeddah) http://mscc.com.sa and aim to activate intra portfolio
synergies to bring relevant opportunities and cooperative developments to
Bracknor's portfolio companies particularly in the GCC (Gulf Cooperation
Council) Region.
www.bracknor.com
Contacts
GLOBAL BIOENERGIES
François-Henri Reynaud
Chief Financial Officer
Phone: +33 (0)1 64 98 20 50
Email: invest(at)global-bioenergies.com
BRACKNOR
Pierre Vannineuse
CEO
Email: info(at)bracknor.com
GLOBAL BIOENERGIES PRESS RELEASE:
http://hugin.info/166909/R/2052674/768291.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: GLOBAL BIOENERGIES via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 28.10.2016 - 17:58 Uhr
Sprache: Deutsch
News-ID 503581
Anzahl Zeichen: 11742
contact information:
Town:
Evry
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 276 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"GLOBAL BIOENERGIES: ISSUE OF ALL WARRANTS (BEOCABSA) TO BRACKNOR INVESTMENT GROUP AND ISSUE OF A SECOND TRANCHE OF CONVERTIBLE BONDS WITH WARRANTS ATTACHED FOR A TOTAL OF ?750,000"
steht unter der journalistisch-redaktionellen Verantwortung von
GLOBAL BIOENERGIES (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
