Brief: Adocia Sells Building In Lyon For More Than EUR 20 Mln

Adocia SA

28/03/2022 17:17

March 28 (Reuters) - Adocia SA  ADOC.PA :
    * ADOCIA STRENGTHENS ITS CASH POSITION BY 19 MILLION EUROS
FOLLOWING A REAL ESTATE TRANSACTION
    * THIS TRANSACTION RESULTS IN A NET CASH INFLOW OF 19
MILLION
EUROS AND IS ACCOMPANIED BY SIGNATURE OF A 12-YEAR FIRM
RENEWABLE LEASE
    * SALE OF ITS BUILDING IN LYON IN A SALE AND LEASEBACK
TRANSACTION
WORTH OVER 20 MILLION EUROS
    * WITH THIS NON-DILUTIVE TRANSACTION, ADOCIA HAS TODAY A
CASH
POSITION OF 28 MILLION EUROS
    * WE EXPECT 2022 TO BE A PIVOTAL YEAR FOR ADOCIA WITH
IMPORTANT
MILESTONES IN OUR MAJOR PROGRAMS - CEO
    * AS A RESULT OF THIS TRANSACTION, RENT DUE BY CO WILL BE OF
SIMILAR AMOUNT AND WILL REPLACE REPAYMENT OF DEBTS THAT WERE
CONTRACTED TO FINANCE PURCHASE OF BUILDING IN 2016, AND WHICH
HAVE BEEN FULLY REPAID TODAY AS PART OF SALE TRANSACTION 
    * LEASE IS FOR A FIRM TERM OF 12 YEARS, WITH AN OPTION TO
RENEW
FOR NINE ADDITIONAL YEARS

Source text for Eikon:  ID:nGNX4JXVKd 
Further company coverage:  ADOC.PA 

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