Global EcoPower reviews the terms of the contract concluded on july 21, 2015, particularly in order to terminate in advance the equity line financing in accordance with ACM, and welcomes two new investors

Aix-en-Provence (France), September 15, 2016. Global EcoPower (Alternext - FR0011289198 - ALGEP), constructor of power plants using renewable energy sources, announces its decision, in agreement with the investment company Atlas Capital Markets (ACM), to terminate in advance the equity line financing concluded on July 21, 2015. GEP and ACM have also reviewed several issues related to the contract for the issuance and the subscription of bonds convertible into shares with warrants (OCABSA) and two lines of warrants (BSA) (read the press release of July 22, 2015).

Philippe Perret, EXECUTIVE VICE PRESIDENT OF GEP:

«We thank ACM for having accompanied us throughout the past year. We have decided on a different procedure for the equity financing of our power plants. We will advise the market on this topic as soon as possible. Therefore, we agreed with ACM to terminate in advance the equity line financing.

Furthermore, we are delighted to welcome two new quality private shareholders who decided to continue the adventure in the long term, convinced by the development strategy implemented by the management and the significant potential of our sector. Both private shareholders participated in the capital of the recently sold company Parc Eolien de Seuil Mont Laurent ».

As a reminder, the financing line in the contract of July 21, 2015 provided:

The issuance of 10,000 bonds convertible into shares (OCA) with warrants (Warrants 1) – the OCA and the Warrants 1 together form the OCABSA, which may lead to a capital increase for a maximum amount of € 2,000,000 (including share premium);

The issuance of 90,000 warrants (Warrants 2), which may lead to a subsequent capital increase for a maximum amount of € 9,000,000 (including share premium);

The issuance of 22,500 warrants (Warrants 3) which may lead to a subsequent capital increase for a maximum amount of € 2,250,000 (including share premium).

Atlas Capital Markets currently holds, under this equity line financing, 6,600 OCA, 10,000 warrants 1, 90,000 warrants 2 and 22,500 warrants 3.

Atlas Capital Markets will request today the conversion of all of the OCA, according to the contract of July 21, 2015, at a conversion price of € 2.68, resulting in the issuance of 246,268 new shares. These shares will be sold by ACM immediately upon their creation to two private investors in equal parts, at a unit price of 2.68 €. Both private long-term investors were already associated with GEP in Parc Eolien de Seuil Mont Laurent (PESML), with a total capacity of 10MW, by acquiring mid-2015, 40% of the project rights alongside GEP who held the balance. In July 2016, once built by GEP, the project was sold turnkey to the German investment funds LHI. Both investors wished to reinvest a part of this assignment by becoming shareholders of GEP.

At the same time, the new investors will both acquire from ACM 3,300 warrants 1 at a unit price of € 3.73, ACM keeping the balance of warrants 1 which remain subject to the contract of July 21, 2015.

Global EcoPower and Atlas Capital Markets agreed to no longer make use of the equity financing line. All warrants 2 and 50% of the warrants 3 are neutralized, ACM thus keeping 3,400 warrants 1 and 11,250 warrants 3.

Following this transaction, the share capital of GEP will consist of 5,472,466 shares. The exercise of all warrants 1 and warrants 3 still in circulation (the warrants 2 being fully neutralized) may lead to the creation of 435,147 new shares and to capital increases for a maximum amount of € 2,125,000 (including share premium).

About GEP

Global EcoPower is an Aix-en-Provence based company and a “turnkey” constructor of power plants using renewable energies, wind and solar power. GEP is listed on the Alternext Paris Market of Euronext (ISIN code: FR0011289198 - mnemo: ALGEP). GEP is eligible for PEA-PME.

Contacts

Global EcoPower

Thierry DARIER

Investor Relations

Tél. : + 33 442 245 016

[email protected]
ACTUS Finance

Vivien FERRAN

Press Relations

Tél. : + 33 (1) 53 67 36 34

[email protected]