Brief: Genfit Hits Milestone In Partial Buyback, OCEANEs Amendment

Genfit SA

07/12/2020 07:20

Dec 7 (Reuters) - Genfit SA  GNFT.PA :
    * ANNOUNCES THE SUCCESSFUL COMPLETION OF A KEY MILESTONE IN
THE
PARTIAL BUYBACK AND AMENDMENT OF ITS OCEANES
    * PARTIAL BUYBACK OF 47.6% OF THE OCEANES FOR A TOTAL AMOUNT
OF
47.48 MILLION EUROS
    * 85.70 MILLION EUROS CONVERTIBLE DEBT POTENTIALLY
CANCELLED,
LEADING TO A RESIDUAL DEBT OF 94.30 MILLION EUROS (VERSUS 180
MILLION EUROS PREVIOUSLY)
    * BUYBACK SUBJECT TO OCTOBER 2025 MATURITY EXTENSION AND
CONVERSION RATIO INCREASE FROM 1:1 TO 1:5.5
    * FINAL APPROVAL OF TERMS OF OCEANES SUBJECT TO THE JANUARY
2021
SHAREHOLDERS’ AND BONDHOLDERS’ GENERAL MEETINGS
    * OCEANES: NEW MATURITY DATE OF OCTOBER 16, 2025
    * DEFERRAL OF THE INITIATION OF THE EARLY REDEMPTION PERIOD1
IN
THE OCEANES TERMS AND CONDITIONS (INITIATING ON NOVEMBER 3,
2023)
    * NOMINAL VALUE AND REDEMPTION PRICE OF THE OCEANES WILL
REMAIN
UNCHANGED AT €29.60 PER OCEANE
    * BUYBACK SETTLEMENT DATE, EXPECTED TO BE JANUARY 29, 2021,
AT THE
LATEST

Source text for Eikon:  ID:nGNE8xBwn9 
Further company coverage:  GNFT.PA 

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