Brief: Naga Group AG Agrees With Investor On Adjustment Of The Terms And Conditions Of Convertible Bond

NAGA AG

24/10/2023 19:27

Oct 24 (Reuters) - Naga Group Ag  N4G.DE :
    * EQS-ADHOC: THE NAGA GROUP AG: NAGA GROUP AG AGREES WITH
INVESTOR
ON ADJUSTMENT OF THE  TERMS AND CONDITIONS OF CONVERTIBLE BOND
    * AMENDED BOND TERMS PROVIDE FOR PARTIAL REPAYMENT OF $6
MILLION
AT MATURITY ON OCTOBER 30, 2023
    * FOR PARTIAL REPAYMENT, CO HAS TAKEN OUT A LOAN WITHOUT
CONVERSION RIGHTS FROM AN INSTITUTIONAL INVESTOR WITH A TERM OF
12 MONTHS
    * NAGA GROUP -  AMENDED BOND TERMS PROVIDE FOR REPAYMENT OF
REMAINING AMOUNT OF APPROXIMATELY USD 2.7 MILLION PLUS ACCRUED
INTEREST ON JANUARY 30, 2024
    * NAGA GROUP - HOLDER OF CONVERTIBLE BOND WILL NOT EXERCISE
HIS
CONVERSION RIGHT, SO THAT THERE WILL BE NO DILUTION FOR
SHAREHOLDERS IN THIS RESPECT

Source text for Eikon:  ID:nEQ1YMjwCa 
Further company coverage:  N4G.DE 

 (Reporting by Gnaneshwar Rajan)
 ((Gnaneshwar.Rajan@thomsonreuters.com;))