Brief: Genfit Renegotiates OCEANEs Convertible Bond Terms

Genfit SA

23/12/2020 07:20

Dec 23 (Reuters) - GENFIT SA  GNFT.PA :
    * ANNOUNCED ON TUESDAY THE RENEGOTIATION OF OCEANES
CONVERTIBLE
BOND TERMS
    * COMPANY PROPOSES MODIFICATION OF INITIAL CONVERSION RATIO
FROM
ONE (1) NEW OR EXISTING SHARE FOR ONE (1) OCEANE TO 5.5 NEW OR
EXISTING SHARES FOR ONE (1) OCEANE
    * COMPANY PROPOSES EXTENSION OF MATURITY OF OCEANES FROM
OCTOBER
16, 2022 TO OCTOBER 16, 2025
    * COMPANY PROPOSES DEFERRAL OF START DATE OF EARLY
REDEMPTION
PERIOD AS SET OUT IN TERMS AND CONDITIONS OF OCEANES TO NOVEMBER
6, 2023
    * COMPANY PROPOSES MODIFICATION OF ADJUSTMENT OF CONVERSION
RATIO
IN EVENT OF A TENDER OFFER TARGETING COMPANY SHARES IN ORDER TO
TAKE INTO ACCOUNT OCEANES MATURITY EXTENSION
    * MODIFICATION OF CONVERSION RATIO IS SUBJECT TO APPROVAL OF
SHAREHOLDERS IN EXTRAORDINARY SHAREHOLDERS GENERAL MEETING,
SCHEDULED TO CONVENE ON FIRST NOTICE ON JANUARY 13, 2021, OR IF
QUORUM CANNOT BE ACHIEVED, ON SECOND NOTICE, ON JANUARY 25, 2021
    * OCEANE ADJUSTMENTS WILL BE SUBMITTED FOR APPROVAL AT THE
BONDHOLDERS MEETING SCHEDULED TO CONVENE ON JANUARY 25, 2021
    * AFTER JANUARY 31, 2021, IF TRANSACTION IS NOT APPROVED AT
SHAREHOLDERS MEETING NOR BONDHOLDERS MEETING, BONDHOLDERS’
COMMITMENTS TO PARTICIPATE IN PARTIAL BUYBACK WILL BECOME NULL
AND VOID

    
 Source text for Eikon:  ID:nGNE6VnT8C 
 Further company coverage:  GNFT.PA  
   


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