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Carmat SA Subscribes to Contingent Equity Line


Wednesday, 12 Jun 2013 11:46am EDT 

Carmat SA announced that it is taking out a contingent equity line with Kepler Cheuvreux, exercisable by tranches at Carmat SA's discretion, as authorized by the Shareholder Meeting of June 4, 2013. The shares subscribed to by Kepler Cheuvreux can be issued within two years at Carmat SA's request in maximum tranches of 35,000 new shares, or 0.84% of the current share capital. The total number of new shares that could be issued over the coming two years will not exceed 200,000, or 4.81% of the current number of shares. Should the entire contingent equity line be drawn upon, a shareholder who currently owns 1% of the Company’s share capital would see his or her share ownership reduced to 0.95%. For each tranche, the issuance price will depend on the average prevailing share price discounted by no more than 7%. This discount will enable Kepler Cheuvreux, who is a financial intermediary and has no intention of remaining a shareholder in the Company, to underwrite the subscription regardless of market volatility. 

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