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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Novacyt S.a. | LSE:NCYT | London | Ordinary Share | FR0010397232 | EUR1/15TH (CDI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-3.60 | -5.03% | 68.00 | 67.00 | 68.60 | 69.00 | 67.20 | 69.00 | 172,347 | 16:35:25 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
In Vitro,in Vivo Diagnostics | 22.49M | -25.73M | - | N/A | 0 |
TIDMNCYT
RNS Number : 8521R
Novacyt S.A.
19 June 2018
Update on unsecured debt facility
Paris, France and Camberley, UK - 19 June 2018 - Novacyt (EURONEXT GROWTH: ALNOV; AIM: NCYT), an international specialist in clinical diagnostics, announces the conversion of the EUR4.0m unsecured, anti-dilutive debt facility (the "Advance") from a French institutional investor, into an unsecured Convertible Bond (the "Convertible Bond") further to the announcement on 30 May 2018.
The Convertible Bond will be issued on 30 June 2018 following the successful outcome of the Extraordinary General Meeting (EGM) on 11 June 2018, which granted the Company sufficient authorities to issue equity. The Convertible Bond will be issued in a single tranche with a maturity of three years and bears an annual interest rate of 7.4%. There is a non-conversion premium of 0.1%, paid in arrears, only in the event of non-compliance by the Company with its repayment obligations. Only in these circumstances can the conversion be triggered at the discretion of the bond holder (the "Conversion"). In the event of a default, conversion of the facility into ordinary shares would be at a fixed conversion price of EUR0.70 per ordinary share.
Graham Mullis, Group CEO of Novacyt, commented:
"The Board was pleased to secure additional financing flexibility from shareholders at the General Meeting to allow us to execute on our ambitious growth plans. We continue to make good progress with our M&A strategy and I look forward to updating shareholders in due course."
Novacyt drew down the Advance and received the full EUR4.0 million of funding on 29 May 2018 to be used in its external growth plans. The Convertible Bond will amortise monthly with no security and no covenants.
For further information, please refer to www.novacyt.com or contact:
Novacyt SA
Graham Mullis, Chief Executive Officer
Anthony Dyer, Chief Financial Officer
+44 (0)1223 395472
Stifel Nicolaus Europe Limited (Nominated Advisor and Joint Broker)
Jonathan Senior / Fred Walsh / Ben Maddison
+44 (0)20 7610 7600
WG Partners (Joint Broker)
Nigel Birks / Chris Lee / Claes Spång
+44 (0) 203 705 9330
FTI Consulting (International)
Brett Pollard / Victoria Foster Mitchell
+44 (0)20 3727 1000
brett.pollard@fticonsulting.com / victoria.fostermitchell@fticonsulting.com
FTI Consulting (France)
Arnaud de Cheffontaines / Astrid Villette
+33 (0)147 03 69 47 / +33 (0)147 03 69 51
arnaud.decheffontaines@fticonsulting.com / astrid.villette@fticonsulting.com
About Novacyt Group
The Novacyt Group is a rapidly growing, international diagnostics group with a growing portfolio of cancer and infectious disease products and services. Through its proprietary technology platform, NOVAPrep(R), and molecular platform, genesig(R), Novacyt is able to provide an extensive range of oncology and infectious disease diagnostic products across an extensive international distributor network. The Group has diversified sales from diagnostic reagents used in oncology, microbiology, haematology and serology markets, and its global customers and partners include major corporates.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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(END) Dow Jones Newswires
June 19, 2018 06:05 ET (10:05 GMT)
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