July 11, 2019 / 8:25 AM / 10 days ago

BRIEF-Nestmedic Signs Cooperation Deal With Deutsche Balaton Aktiengesellschaft

June 11 (Reuters) - Nestmedic SA:

* SAID ON WEDNESDAY IT HAS SIGNED A COOPERATION DEAL WITH DEUTSCHE BALATON AKTIENGESELLSCHAFT (INVESTOR) FOLLOWING THE COMPLETION OF NEGOTIATION PROCESS

* UNDER DEAL THE INVESTOR UNDERTAKES TO INVEST ABOUT 8.6 MILLION ZLOTYS BY ACQUISITION OF BONDS CONVERTIBLE TO NEW SHARES FOR 4.3 MILLION ZLOTYS IN TOTAL

* THE BONDHOLDER WILL BE ENTITLED TO CONVERT THE BONDS TO SHARES AT EXCHANGE PARITY ONE BOND PER 100 SHARES AT 1.50 ZLOTY PER SHARE

* THE DEAL ALSO PROVIDES FOR THE ISSUE OF 2.9 MILLION SUBSCRIPTION WARRANTS, WHICH THE INVESTOR WILL BE ENTITLED TO CONVERT TO THE SAME NUMBER OF COMPANY’S SHARES AT 1.50 ZLOTY PER SHARE

* THE INVESTOR WILL BE ENTITLED TO CONVERT THE SUBSCRIPTION WARRANTS TO SHARES ON CONDITION THAT IT CONCLUDES AT LEAST A TOTAL OF 585 SALES AND LEASE DEALS OF PREGNABIT DEVICE

* UNDER DEAL THE COMPANY ALSO UNDERTAKES TO TAKE ALL ACTIONS AIMING AT LISTING IT ON THE GERMAN MARKET (DUAL LISTING)

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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