Brief: OTI Greentech: increases equity and reduces debt significantly; 2016 guidance revised

OTI Greentech AG

09/11/2016 08:59

Nov 9 (Reuters) - OTI Greentech AG  NSAG.D : 
    * Increases equity and reduces debt significantly; 2016 guidance revised 
    * Revised guidance for 2016: revenues of 10 million euros ($11.09 million) with significant 
improvement in EBITDA compared to last year 
    * Agreement with shareholder loan providers to convert between 3.5 million euros and 4.0 
million euros of debt into equity at 1.00 euro per new issued share 
    * Conversion will, upon completion, reduce overall debt by up to 50 percent 
    * For 2016 continues to expect a significant improvement in earnings before interest, taxes, 
depreciation and amortisation (EBITDA) performance as well as an increase in revenues compared 
to 2015 
 
Source text for Eikon:  ID:nEQz7tzy  
Further company coverage:  NSAG.D  
 
($1 = 0.9020 euros) 
 
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