It was covered in the total amount of 1,500,000 euros, with a private placement by Bluemoon Capital Fund SP, managed by Glafka Capital, the issuance of the convertible bond loan of the company Agrotikos Oikos Spyros SA, with the abolition of the pre-emptive right of the old shareholders was decided by the Extraordinary General Meeting of Shareholders of 08/10/2021, as announced today by the listed company.
This amount corresponds to 1500 convertible bonds with a nominal value of euro 1000 each, the company states in a relevant announcement.
The “Agricultural House of Spyros SA.” also announced that the renegotiation of all its debts to the creditor banks, Attica Bank Societe Anonyme Bank, Piraeus Bank SA, Aplha Bank Societe Anonyme and Eurobank Bank Societe Anonyme, as they were transferred to the respective special successor and are now under the management of the respective management company.
In particular, the Company proceeded to renegotiate its borrowing and settle its debts by signing the relevant contractual documents of debt recognition and settlement, resulting in their settlement through the repayment plan provided in each contract.
Following the above, “AGROTIKOS OIKOS SPYROU SA”. announces that the convertible bond loan is issued of a total amount of EUR 1,500,000 corresponding to 1500 convertible bonds with a nominal value of EUR 1,000 each.
According to the provisions of the law, as in force, the terms of the loan were determined by the above decision of the General Meeting of Shareholders in conjunction with the decision of the Board of Directors of 25.10.2021. The date of issue was set at 05.11.2021.
The issue product will be used to repay the issuer’s loan obligations.
The basic terms of the loan are as follows:
Type of Bonds: convertible into securities, and non-negotiable.
Number of Bonds convertible into ordinary shares: 1500.
Nominal Value of Bonds: euro 1000.
Issue Price: At Nominal Value of each Bond.
Duration: Until 31.12.2027.
Interest rate: 1.5% per year
Conversion Ratio: The conversion ratio was set to increase gradually as the expiration date approaches. In particular, it was defined that:
-until 31.12.2021 one bond will correspond to 7,653 shares
-until 31.12.2022 one bond will correspond to 8,017 shares
-by 31.12.2023 one bond will correspond to 8,396 shares
-until 31.12.2024 one bond will correspond to 8,766 shares
-by 31.12.2025 one bond will correspond to 9,218 shares
-until 31.12.2026 one bond will correspond to 9,656 shares
-until 31.12.2027 one bond will correspond to 10,088 shares.
It is pointed out to the Investing Public that the total of 1500 bonds of the above convertible bond loan are non-negotiable on the ATHEX and the exercise of the right of conversion by the original or subsequent bond lenders during the conversion of the above bond during the entire bond period of the loan.
Source From: Capital
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