• Interest: Attention will consistently accrue at eleven.5% yearly.
• The latest restructuring fee: Upon performance out of a modification and you will restatement agreement, a single-away from reorganizing commission of EUR 2 hundred,000 will likely be placed on the principal number a good under the Kreos Financing at the time of , hence shall accrue interest at the interest plus in conformity on the regards to the fresh new Kreos Loan until repayment.
• Hive-Down: People Hive-Down would be allowed, but susceptible to certain payday loans Deer Park agreed standards, along with regarding Kreos’s existing first ranks safeguards over-all the fresh property the firm and its subsidiaries, as well as intellectual property.
• Kreos Transformation: If your Company or DSRCo raises collateral otherwise a modifiable otherwise exchangeable money pursuant in order to a great Hive-Off Upcoming Funding, EUR 1,000,000 away from dominant matter an excellent under the Kreos Mortgage should be changed into offers or modifiable or exchangeable debt of DSRCo from the mutatis mutandis an equivalent terminology.
• Board observer: A real estate agent from Kreos can be appointed because a section observer in this ten working days of entry towards the a modification and you may restatement agreement.
• Economic covenant: After the satisfaction of the criteria towards expansion of your Last Fees Date off , the company should make sure it preserves adequate cash runway upwards so you’re able to and you will and .

Because hereof, this new board off directors of the Team used the whole process of Blog post seven:97 of the Belgian Businesses and Contacts Code in connection with the latest acceptance of the Modifiable Bridge Loan

The firm plus inserted into the amendments with regards to (i) the fresh new EUR 4,3 hundred,000 partially convertible loan with PMV Standaardleningen NV (formerly also known as PMV/z Leningen NV), (ii) brand new EUR dos,000,000 mortgage which have Belfius Insurance rates NV, and you may (iii) new EUR eight hundred,000 loan that have Sensinendments for the these types of loans consist of (a) an increase of your own appropriate interest levels below each one of the related loan agreements having step one.0% per year and (b) also a conversion process correct making it possible for all these loan providers to alter all number a good lower than the mortgage with the offers of one’s Organization from the a sales rates equal to brand new arithmetic average of the every single day frequency adjusted mediocre trading price per express of the Organizations offers traded towards the Euronext Brussels during the period of thirty (30) consecutive working days finish towards the (and plus) the next trading time before time on which the organization has received brand new security sales exercise find, without a savings out of twenty five%.

Next info is given pursuant so you can Post 7:97, 4/hands down the Belgian Organizations and you will Connections Code to the the newest Modifiable Bridge Financing granted by Couples into the Collateral, EQT, GRAC and you can Rosetta Investment on Business

Lovers during the Equity, EQT and you may Rosetta Financial support is investors of your Providers and generally are represented towards the board regarding directors of your Company. Consequently, all of them will be thought to be good “relevant cluster” from inside the meaning of the latest Worldwide Financial Reporting Standards, because the followed of the Eu (IFRS), while the labeled into the Article seven:97 of Belgian Enterprises and you will Associations Code. Ids van der Weij (a movie director, representing People from inside the Guarantee), Rudy Dekeyser (a movie director, symbolizing EQT) and you can Kenneth Macleod (a movie director, representing Rosetta Financial support) failed to be involved in the deliberation and voting from the panel regarding administrators regarding the fresh recognition of your own entering into of your related mortgage arrangements.

Inside the context of your the second processes, before statement additionally the finalizing of your Modifiable Connection Loan documents, a committee away from around three independent administrators of Organization (the fresh new “Committee”) given a referral into panel out of directors where in actuality the Panel assessed the latest getting into of the Modifiable Connection Loan.