• Rate of interest: Notice should always accrue at the eleven.5% per annum.
• The fresh reorganizing percentage: Up on execution out of a modification and restatement agreement, a-one-from reorganizing percentage from EUR 200,000 will be applied to the main count outstanding under the Kreos Loan since , and that shall accrue attract in the interest and in conformity towards the regards to the newest Kreos Loan until repayment.
• Hive-Down: People Hive-Off will be enabled, however, subject to particular agreed criteria, plus in terms of Kreos’s established very first positions coverage overall brand new assets the company and its particular subsidiaries, plus rational possessions.
• Kreos Transformation: If for example the Team otherwise DSRCo brings up equity or a modifiable or exchangeable money pursuant in order to a great Hive-Down Future Financing, EUR 1,000,000 regarding prominent amount outstanding within the Kreos Financing shall be converted into shares or convertible otherwise exchangeable obligations out of DSRCo at mutatis mutandis the same words.
• Board observer: A real estate agent out of Kreos shall be appointed since the a board observer inside 10 working days from admission into an amendment and you can restatement contract.
• Economic covenant: After the satisfaction of your own standards into the expansion of the Final Fees Date of , the organization should make sure that they holds sufficient dollars runway right up so you can and you will in addition to .

In view hereof, the latest board regarding directors of your Team used the process of Post seven:97 of one’s Belgian Enterprises and you can Associations Code concerning the approval of Modifiable Bridge Financing

The company and additionally entered to your amendments in terms of (i) new EUR 4,three hundred,000 partly convertible financing having PMV Standaardleningen NV (previously known as PMV/z Leningen NV), (ii) the latest EUR 2,000,000 mortgage having Belfius Insurance NV, and you can (iii) the latest EUR eight hundred,000 mortgage with Sensinendments into these types of fund incorporate (a) an increase of the applicable interest levels under all the related financing agreements having step 1.0% yearly and you may (b) including a conversion process best making it possible for each of these loan providers to convert the quantity an excellent lower than the loan on the offers of one’s Organization at a sales rates equivalent to the brand new arithmetic mediocre of your everyday volume weighted mediocre trade price for each and every display of one’s Business’s offers replaced with the Euronext Brussels throughout 30 (30) consecutive trading days end toward (and you can as well as) the next change go out through to payday loan Demopolis the time on which the business has already established the fresh security conversion process take action find, without a cost savings from twenty-five%.

Next info is considering pursuant in order to Article 7:97, §4/one of the Belgian Businesses and you may Associations Password concerning the fresh new Convertible Connection Financing offered from the Partners from inside the Collateral, EQT, GRAC and you can Rosetta Financing on the Business

People within the Collateral, EQT and you can Rosetta Capital try investors of Company and are also depicted towards board of administrators of your Company. This is why, each will be regarded as a beneficial “associated team” from inside the concept of brand new Global Economic Revealing Standards, because observed because of the Eu (IFRS), since the known when you look at the Post seven:97 of your Belgian Businesses and you will Associations Password. Ids van der Weij (a director, symbolizing People for the Guarantee), Rudy Dekeyser (a director, representing EQT) and you will Kenneth Macleod (a movie director, symbolizing Rosetta Financial support) don’t be involved in the fresh deliberation and voting from the panel of directors in relation to new recognition of your stepping into of the relevant loan agreements.

Into the context of one’s the second techniques, prior to this announcement and also the finalizing of the Modifiable Connection Mortgage documents, a panel of around three independent directors of the Company (the latest “Committee”) given a suggestion to the board of directors where in actuality the Committee analyzed new stepping into of one’s Modifiable Link Mortgage.