Brief: Audiovalley/Acquisition Of Radionomy/Targetspot: Renegotiation With Vivendi Of Terms Of Vendor Credit Early Repayment

Winamp SA

01/07/2019 17:15

July 1 (Reuters) - AUDIOVALLEY SA  ALAVY.PA :
    * ACQUISITION OF RADIONOMY/TARGETSPOT: RENEGOTIATION WITH VIVENDI OF TERMS OF VENDOR CREDIT
EARLY
REPAYMENT
    * NOW OWNS 98.53% OF THE CAPITAL OF RADIONOMY GROUP BV.
    * AT END-JUNE, VENDOR CREDIT BALANCE RELATED TO FINANCING OF THIS OPERATION STOOD AT €24.7
MILLION, PAYABLE IN CASH IN SEVERAL ANNUAL INSTALMENTS BETWEEN 2019 AND 2025
    * UNDER NEW AGREEMENT, THIS DEBT MAY NOW BE PAID OFF NO LATER THAN 30 OCTOBER 2019, WHICH
WOULD
ALLOW AUDIOVALLEY TO BENEFIT FROM DISCOUNT OF UP TO 39%, OR POTENTIAL REDUCTION OF €9.7 MILLION
    * INITIAL REPAYMENT AGREEMENT PROVIDED FOR A DISCOUNT OF UP TO 30% (OVER €7 MILLION) IF
IMPLEMENTED NO LATER THAN 30 JUNE 2019

Source text: https://bit.ly/2RQBfH1
Further company coverage:  ALAVY.PA 

 (Gdynia Newsroom)
 ((Gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))