Brief: Erne Ventures signs agreement with Arrinera for debt settlement

Garin AI SA

01/12/2016 15:13

Dec 1 (Reuters) - Erne Ventures SA  ERN.WA : 
    * Said on Wednesday that it signed with Arrinera SA 
 ARXP.WA  an agreement on the settlement of debt 
    * The company will acquire series B subscription warrants of 
Arrinera and subsequently, in exchange for liabilities, series G 
shares issued under Arrinera's capital increase  
    * Total amount of Arrinera's liabilities towards Erne 
Ventures is 11.2 million zlotys ($2.7 million) 
    * The parties agreed that the issue price of series G shares 
will be equal to issue price of Arrinera's series H shares  
    * The issue of series B subscription warrants and series G 
shares will be conducted by June 30, 2017 
    * The agreement on the settlement of debt will expire if the 
public offer of series H shares is not closed by Dec. 31 
    * Erne Ventures is majority shareholder of Arrinera  
 
     
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM3072565,  urn:newsml:reuters.com:*:nEM3072561 
     
 Further company coverage:  ERN.WA , ARXP.WA   
    
 
 
 
 
 
($1 = 4.2170 zlotys) 
 
 (Gdynia Newsroom) 
 ((Gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))