December 8, 2016 / 6:55 AM / in 7 months

BRIEF-Avanquest issues convertible bonds

1 Min Read

Dec 8 (Reuters) - Avanquest SA :

* Issuance of bonds convertible into existing shares (non-dilutive) fully reserved for certain investors to accelerate the development of growth activities

* The issuance of 1,249 bonds convertible into 12,490,000 existing ordinary shares (OCAE) of the company, representing a total amount of 1,811,050 euros ($1.95 million)

* Holders of bonds will, at any time from date of issuance on Dec. 7, 2016, option to obtain allotment of existing shares of Avanquest by early conversion on basis of 10,000 shares with nominal value of 0.10 euro for 1 bond

* Bonds bear interest at the rate of 6 pct per annum, bonds will be reimbursed, in fine, at par plus accrued interest (excluding those already paid in respect of annual installments) on December 31, 2022 Source text for Eikon: Further company coverage: ($1 = 0.9286 euros) (Gdynia Newsroom)

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