Brief: Acotel Signs Binding Term-Sheet On Unit Bucksense With Heritage Finance

Softlab SpA

14/02/2019 10:19

Feb 14 (Reuters) - Acotel Group SpA  ACO.MI :
    * BOARD APPROVES SIGNING OF BINDING TERM-SHEET WITH HERITAGE FINANCE
    * TERM-SHEET ENVISAGES TWO CAPITAL INCREASES BY UNIT BUCKSENSE FOR USD 9 MILLION AND USD 3.5
MILLION, RESPECTIVELY
    * AT END OF FIRST BUCKSENSE CAPITAL INCREASE, HERITAGE FINANCE WILL OWN 75 PERCENT OF CO
WHILE
ACOTEL 25 PERCENT
    * AT END OF SECOND BUCKSENSE CAPITAL INCREASE, HERITAGE FINANCE WILL RAISE ITS STAKE TO 81.8
PERCENT
    * BUCKSENSE TO REIMBURSE USD 2.2 MILLION IN TRADE RECEIVABLES OWED TO ACOTEL AFTER FIRST
CAPITAL
INCREASE
    * REMAINING USD 3.5 MILLION TRADE RECEIVABLES OWED TO ACOTEL BY BUCKSENSE TO BE TRANSFORMED
INTO
SHAREHOLDERS' LOAN
    * SHAREHOLDERS' LOAN TO LAST FIVE YEARS AND HAVE ANNUAL FIXED INTEREST RATE OF 4.00 PERCENT

Source text for Eikon:  ID:nBIA7z76Tr 
Further company coverage:  ACO.MI 

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