With its pointers on panel out of directors, brand new Committee concluded the second:

• Rate of interest: Notice will continue to accrue from the 11.5% per annum.
• The new reorganizing commission: Through to performance out-of an amendment and you may restatement agreement, a-one-out of reorganizing percentage of EUR two hundred,000 should be used on the principal number a good according to the Kreos Loan by , and this will accrue focus from the interest and also in conformity to the regards to the new Kreos Loan up until fees.
• Hive-Down: One Hive-Off is going to be enabled, however, subject to certain decided conditions, in addition to with respect to Kreos’s present basic positions safety total the assets the company and its own subsidiaries, as well as rational assets.
• Kreos Conversion: In the event your Organization otherwise DSRCo raises equity or a modifiable or exchangeable financing pursuant in order to a beneficial Hive-Down Future Money, EUR step 1,000,000 regarding dominant count a good under the Kreos Mortgage will be turned into offers or modifiable otherwise exchangeable obligations from DSRCo during the mutatis mutandis the same words.
• Panel observer: An agent away from Kreos should be appointed since a board observer within ten business days from entry to the a modification and restatement agreement.
• Financial covenant: After the satisfaction of criteria to your extension of the Final Payment Go out out of , the firm shall make sure they retains adequate cash runway up so you can and you can together with .

Because hereof, new board of directors of Team used the process of Blog post 7:97 of Belgian People and Connectivity Password in connection with the recognition of the Convertible Bridge Loan

The organization together with entered into the amendments when it comes to (i) the fresh EUR cuatro,300,000 partially modifiable financing having PMV Standaardleningen NV (previously also known as PMV/z Leningen NV), (ii) new EUR dos,000,000 financing with Belfius Insurance coverage NV, and you can (iii) the brand new EUR eight hundred,000 loan which have Sensinendments towards the these types of financing include (a) a rise of one’s relevant interest rates not as much as each one of the associated loan agreements which have step one.0% per year and (b) together with a conversion best enabling every one of these lenders to transform every numbers a great around its financing to the shares of one’s Providers from the a conversion process rate equivalent to the new arithmetic average of one’s every single day regularity adjusted average trade rates for every share of Businesses offers exchanged for the Euronext Brussels over the course of 30 (30) consecutive working days end towards the (and you will and additionally) the third trading go out until the time on what the company has had the fresh equity transformation take action observe, without a cost savings off twenty-five%.

The following information is considering pursuant in order to Post 7:97, §4/1 of the Belgian Companies and you can Associations Password concerning the the new Modifiable Bridge Mortgage provided from the Lovers inside Security, EQT, GRAC and Rosetta Financing on the Providers

Partners during the Security, EQT and you may Rosetta Investment was investors of your own Company and are usually represented towards board out of directors of your Providers. Because of this, all of them might be thought to be an excellent “relevant team” when you look at the meaning of the new Around the globe Financial Reporting Requirements, once the used of the Eu (IFRS), because the labeled for the Blog post eight:97 of your own Belgian Enterprises and Connections Password. Ids van der Weij (a movie director, representing Partners during the Collateral), Rudy Dekeyser (a movie director, representing EQT) and Kenneth Macleod (a manager, representing Rosetta Financing) failed to be involved in this new deliberation and you can voting by panel away from administrators in terms of new recognition of your getting into of related loan agreements.

In context of the second processes, prior to this announcement in addition to finalizing of the Convertible Connection payday loans in Highland Lakes AL no credit check Loan documents, a committee off around three separate directors of Organization (the new “Committee”) issued an advice to the panel off administrators in which the Panel examined the new getting into of one’s Convertible Bridge Loan.