• Interest rate: Interest should still accrue at 11.5% per annum.
• New restructuring payment: Up on execution out of a modification and you can restatement arrangement, a one-off restructuring payment out of EUR two hundred,000 are going to be placed on the primary matter a fantastic beneath the Kreos Loan since , and this shall accrue attention during the interest rate along with conformity toward regards to the brand new Kreos Financing up to fees.
• Hive-Down: Any Hive-Off will likely be permitted, but subject getting a loan in Miami to specific agreed conditions, in addition to with regards to Kreos’s current very first ranking security over all brand new property the firm as well as subsidiaries, also rational possessions.
• Kreos Conversion: In the event your Business otherwise DSRCo raises security or a modifiable or exchangeable capital pursuant to help you a good Hive-Off Upcoming Investment, EUR step one,000,000 away from dominant matter a good in Kreos Financing should be turned into shares otherwise modifiable otherwise exchangeable loans regarding DSRCo on mutatis mutandis a comparable terms and conditions.
• Board observer: An agent regarding Kreos are going to be appointed as a screen observer inside 10 business days regarding admission into the a modification and restatement arrangement.
• Monetary covenant: Following fulfillment of one’s conditions on the extension of the Last Fees Big date of , the organization shall make sure they maintains enough cash runway right up to help you and also .

In view hereof, the new panel out of directors of your Organization used the whole process of Blog post eight:97 of your own Belgian Companies and you may Connectivity Password about the new acceptance of the Modifiable Link Loan

The company together with entered for the amendments when it comes to (i) the newest EUR cuatro,3 hundred,000 partially modifiable mortgage having PMV Standaardleningen NV (previously also known as PMV/z Leningen NV), (ii) the brand new EUR dos,000,000 mortgage with Belfius Insurance NV, and you can (iii) new EUR 400,000 loan having Sensinendments for the such finance incorporate (a) an increase of one’s relevant interest rates not as much as all the relevant mortgage arrangements having step one.0% per annum and you will (b) and additionally a sales best making it possible for each one of these lenders to convert all the amounts the less than the mortgage into the shares of one’s Business at the a sales rate comparable to new arithmetic average of the daily frequency weighted mediocre trade rate for each and every share of your own Organizations offers replaced towards Euronext Brussels throughout 30 (30) successive working days ending with the (and you may together with) the 3rd exchange go out before day about what the firm has already established the brand new guarantee conversion do it see, minus an economy out of twenty five%.

Another info is provided pursuant so you’re able to Post eight:97, 4/one of the Belgian Organizations and Contacts Code regarding the the new Convertible Bridge Loan offered by Partners from inside the Guarantee, EQT, GRAC and you can Rosetta Financing towards Team

Lovers inside the Equity, EQT and Rosetta Funding is actually shareholders of Providers and are usually illustrated on the panel of directors of Providers. Because of this, every one of them might possibly be considered as a good “related cluster” from inside the meaning of brand new Worldwide Financial Reporting Requirements, because accompanied by the Eu (IFRS), because regarded into the Article eight:97 of the Belgian Companies and you can Connectivity Password. Ids van der Weij (a movie director, representing Partners from inside the Collateral), Rudy Dekeyser (a manager, symbolizing EQT) and you may Kenneth Macleod (a director, representing Rosetta Investment) didn’t be involved in brand new deliberation and voting because of the panel off directors in terms of the latest approval of one’s stepping into of related loan agreements.

In perspective of your aforementioned techniques, before statement in addition to finalizing of one’s Convertible Link Mortgage documentation, a panel regarding about three independent administrators of your own Providers (the latest “Committee”) provided a suggestion with the board off administrators where the Committee assessed brand new getting into of Modifiable Connection Mortgage.