Brief: Azerion Simplifies Loan Structures Between Azerion And Principion

Azerion NV

11/12/2023 06:44

Dec 11 (Reuters) - Azerion Group NV  AZRN.AS :
    * IT HAS TODAY ENTERED INTO AN AGREEMENT WITH PRINCIPION
HOLDING
B.V. ("PRINCIPION") TO SIMPLIFY AZERION'S LOAN STRUCTURE BY
SETTLING SEVERAL LOANS OUTSTANDING BETWEEN AZERION AND
PRINCIPION
    * OBJECTIVES OF LOAN SETTLEMENT ARE TO SIMPLIFY AZERION'S
CAPITAL
STRUCTURE BY SETTING OFF MUTUALLY OUTSTANDING UNSECURED
LIABILITIES, WHILST AT SAME TIME PROVIDING AZERION WITH SECURITY
AGAINST REMAINING BALANCES
    * LOAN SETTLEMENT ALSO PROVIDES AZERION ABILITY TO USE ANY
ORDINARY SHARES IN CAPITAL OF AZERION TO BE ACQUIRED THROUGH
LOAN SETTLEMENT MECHANISM FOR VALUE CREATING PURPOSES FOR ALL
SHAREHOLDERS WITHOUT ISSUANCE OF NEW SHARES
    * AS AT DATE OF THIS PRESS RELEASE, AGGREGATE AMOUNT DUE AND
OUTSTANDING UNDER LOANS PROVIDED BY (I) PRINCIPION TO AZERION IS
APPROXIMATELY EUR 17.5 MILLION, AND (II) AZERION TO PRINCIPION
IS APPROXIMATELY EUR 36 MILLION

Source text for Eikon:  ID:nGNE2s97yj 
Further company coverage:  AZRN.AS 

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