In its pointers into board regarding directors, the brand new Committee concluded next:

• Interest: Focus will continue steadily to accrue during the eleven.5% per annum.
• The fresh reorganizing commission: Up on execution from an amendment and restatement arrangement, a one-away from restructuring fee away from EUR two hundred,000 can be put on the principal count an excellent underneath the Kreos Mortgage as of , which will accrue focus in the interest as well as in accordance toward regards to the fresh new Kreos Financing up until repayment.
• Hive-Down: People Hive-Down should be let, but susceptible to particular assented conditions, and additionally when it comes to Kreos’s present earliest positions protection over all the newest assets the company and its own subsidiaries, also rational property.
• Kreos Conversion process: If your Business otherwise DSRCo brings up security otherwise a convertible otherwise exchangeable financing pursuant to help you an effective Hive-Down Coming Money, EUR 1,000,000 off dominant count a good within the Kreos Mortgage is turned into shares or modifiable or exchangeable personal debt off DSRCo at the mutatis mutandis an equivalent terms.
• Panel observer: A representative off Kreos is going to be designated because the a screen observer in this 10 working days from entry to the an amendment and you will restatement contract.
• Economic covenant: Following pleasure of criteria on extension of one’s Final Cost Date regarding , the business should make certain it maintains sufficient cash runway upwards so you’re able to and you will including .

Because hereof, this new board out-of administrators of the Providers applied the whole process of Post 7:97 of Belgian Companies and you can Connections Code regarding the brand new approval of Modifiable Bridge Financing

The organization and additionally inserted for the amendments in terms of (i) the fresh new EUR 4,3 hundred,000 partly modifiable financing that have PMV Standaardleningen NV (previously labeled as PMV/z Leningen NV), (ii) brand new EUR 2,000,000 financing which have Belfius Insurance NV, and you will (iii) the fresh new EUR 400,000 financing with Sensinendments towards the these types of funds feature (a) a rise of the relevant interest rates around all the relevant loan arrangements which have step 1.0% yearly and you can (b) together with a conversion process best allowing each of these loan providers to convert all of the quantity the below their mortgage on the offers of your Providers in the a sales price comparable to the newest arithmetic mediocre of one’s each day frequency weighted mediocre trading price for every share of one’s Businesses offers exchanged on Euronext Brussels over the course of thirty (30) successive business days stop on the (and you may as well as) the next exchange time up until the date on what the business has already established the new collateral transformation get it done observe, minus a benefit of twenty five%.

The following data is offered pursuant to Post 7:97, 4/1 of the Belgian Enterprises and you can Associations Password regarding the the newest Modifiable Bridge Financing provided by Couples in Collateral, EQT, GRAC and you may Rosetta Money towards the Team

Couples within the Guarantee, EQT and Rosetta Investment is actually investors of one’s Business and are portrayed for the panel off administrators of one’s Company. As a result, all of them would-be considered as an effective “associated team” in meaning of the newest In the world Monetary Reporting Standards, because used by Eu (IFRS), while the regarded when you look at the Blog post 7:97 of one’s Belgian Enterprises and you can Connectivity Code. Ids van der Weij (a manager, symbolizing Couples within the Security), Rudy Dekeyser (a movie director, symbolizing EQT) and you can Kenneth Macleod (a director, representing Rosetta Investment) failed to participate in the brand new deliberation and you can voting by the board off directors with regards to brand new approval of your stepping into of your own relevant loan arrangements.

From inside the framework of the aforementioned process, before announcement additionally the signing of your own Convertible Bridge Financing paperwork, a panel out of around three separate directors of Team (the fresh new “Committee”) given a recommendation on board off directors where Committee reviewed this new stepping into of the Convertible Connection Financing.