FERMENTALG : DIC Corporation invests EUR5 million in Fermentalg in the form of convertible bonds
Press release
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Libourne – 25 October 2017 – Fermentalg (Euronext – FALG), French leader in microalgae for nutrition and health, has announced the issuance of bonds convertible into shares reserved for global chemicals industry leader DIC Corporation (Tokyo Stock Exchange - 4631) as part of a global partnership signed on 11 September 2017[1].
Fermentalg's Annual General Meeting of Shareholders, which met on 19 October, adopted the first resolution pertaining to the issuance of one (1) million bonds convertible into shares reserved for DIC Corporation.
Following the meeting, on 24 October 2017, DIC Corporation effectively subscribed to the reserved issuance of one (1) million bonds convertible into shares at a unitary price of €5.00 per share, representing a total nominal amount of €5 million. The convertible bonds to be issued by Fermentalg will bear annual interest of 5% until maturity, namely for a period of three years. The bonds may be converted into new shares at any time, at DIC Corporation's discretion and at a price of €5.00 per share[2].
About Fermentalg
Fermentalg is a French leader in microalgae. Based in Libourne (Nouvelle Aquitaine), the company produces oils, pigments and proteins through the bio-industrial exploitation of microalgae. Its primary markets are the human nutrition and animal feed sectors as well as the health industry. Fermentalg shares are listed on Euronext in Paris (FR0011271600 - FALG). For more information, visit the Fermentalg website at: www.fermentalg.com
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[1] See press release of 11 September 2017: Fermentalg joins forces with Japanese firm DIC to develop a new generation of natural food colorings
[2] Details of the terms and conditions of the convertible bond issue are provided in the prospectus relating to the capital increase whose successful outcome was announced on 19 October and in the resolutions of the Ordinary and Extraordinary General Shareholder Meetings held on the same day.
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Full and original press release in PDF:
https://www.actusnews.com/documents_communiques/ACTUS-0-50742-fermentalg-cp-oc-dic-vuk.pdf
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