In-article:

BOOSTHEAT: UPDATE ON THE PROJECT TO TAKE A STAKE IN THE CAPITAL OF BOOSTHEAT – 2022-11-25 at 17:20


Vénissieux, November 25, 2022

BOOSTHEAT (FR0011814938 / ALBOO), a French industrial player in energy efficiency, provides an update on the safeguard procedure opened by judgment of the Commercial Court of Lyon on October 4, 2022 and the Binding Offer subject to conditions precedent minority stake in the capital of the Company by HBR Investment Group (HBR)
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The Court has set the hearing for December 6 to rule on the continuation of the safeguard procedure. Between now and that date, BOOSTHEAT and HBR are working on lifting the conditions precedent in order to finalize the project to acquire a stake and launch BOOSTHEAT’s strategic turnaround plan.

As such, HBR informed BOOSTHEAT of the progress of the lifting of the conditions precedent in these terms:

“(…)

we inform you at this stage to be able to lift the condition precedent (iv) relating to the lessor.

With regard to condition precedent (ii), the bondholders unanimously decided to accept the conditions of the offer proposed by HBR and consequently to waive almost all of their claim. We salute the bondholders’ commitment, which allows us to foresee the restoration of BOOSTHEAT’s financial equilibrium with greater serenity. Thus we will be able to devote the new financial contributions to the ambitious project carried out by the employees of the company while allowing them to accomplish their mission in the best conditions.

However, with regard to banks, to date, 4 institutions (representing 86% of bank debt) have given a favorable response and two institutions have not yet given a favorable response.

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In the event that the conditions precedent, excluding the decree by the Commercial Court of Lyon of a safeguard plan in accordance with the Binding Offer, are not lifted by this deadline, the judicial administrator has filed, as a precaution, requests for conversion of the safeguard procedure into receivership, then from the receivership procedure into judicial liquidation.

The Company will continue to communicate on the next developments in its procedure and in particular on the gradual lifting of the conditions precedent by HBR. At this stage, the suspension of trading of BOOSTHEAT shares is maintained.

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Find all BOOSTHEAT information on


https://www.boostheat-group.com/en/

ABOUT BOOSTHEAT

Founded in 2011, BOOSTHEAT is a player in the energy efficiency sector. The Company’s mission is to accelerate the ecological transition through the integration of its technology in highly energy-consuming applications. BOOSTHEAT has designed and developed a thermal compressor protected by 7 families of patents allowing significant optimization of energy consumption to tend towards a reasonable and relevant use of resources.

BOOSTHEAT has set up its head office, its research center and its industrial site in Vénissieux, in the Lyon region (historic basin of the HVAC* industry). The Company is labeled Innovative Company (Bpifrance) and French Fab. BOOSTHEAT is listed on Euronext Growth in Paris, (ISIN: FR0011814938).

* Heating, ventilation and air-conditioning, or heating, ventilation and air conditioning in French.

I CONTACTS

NEWS finance & communication – Anne-Pauline PETUREAUX

Investor Relations

Such. : 01 53 67 36 72 / [email protected]

NEWS finance & communication – Serena BONI

Press relations

Such. : 04 72 18 04 92 / [email protected]


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See press releases of October 27, 2022 and November 16, 2022


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Full and original press release in PDF format:

https://www.actusnews.com/news/77382-cp_boostheat_audience_6_decembre_vdef.pdf

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