FUNDRAISING OF €0.5 M BY ISSUE OF A TRANCHE OF ORNAN
AND ADDITIONAL FINANCIAL SUPPORT OF €0.2M FROM A REFERENCE SHAREHOLDER
[1]
TO DEPLOY THE NEW STRATEGIC EXPANSION
The GECI International Group, specialist in Digital and Technology, announces the commitment of a financial contribution from a reference shareholder (XLP Holding) for an amount of €0.2 million, in parallel with a fundraising of 0 €.5 million through the drawing of a tranche of 50 bonds redeemable in cash and/or new shares (“ORNAN”) and the corresponding exercise of 50 ORNAN warrants by the investment fund YA II PN, LTD. These new resources allow the Group to strengthen its financial structure and accelerate the deployment of its new expansion strategy.
The operation to draw down a tranche of 50 ORNAN, authorized by the General Meeting of November 12, 2020, is part of the financing of a maximum net amount of €9.3 million concluded on September 30, 2020, with the objective of strengthening the Group’s equity and its financial structure.
This drawdown contributes to providing the Group with the financial resources necessary to meet its commitments and short- and medium-term cash requirements and to reduce its indebtedness. At the end of this drawing, the residual financing capacity by ORNAN is €4.5 million gross.
At the same time as this lifting, the company XLP Holding, controlled by Mr. Serge Bitboul and holding 12.64% of the Group’s capital at the end of July 2022, undertook to make a contribution to a partner’s current account of €0.2 million. . This additional financial support demonstrates confidence in the Group’s prospects and its new strategy.
In addition to strengthening the Group’s equity, these new financial resources will fuel the implementation of the innovation strategy on the smart city markets, with the development of an incubation ecosystem based on capital partnerships or commercial alliances and by supporting the development of new smart products and services with high growth potential.
This metamorphosis of the Group, which is part of a disruptive international context, should enable it to boost its development in complementary businesses, combining Digital and Technology, and to sustainably strengthen its attractiveness, growth and profitability.
Characteristics and terms of ORNANs
It is recalled that the characteristics and terms of the financing and the ORNANs are described in the prospectus approved by the Autorité des Marchés Financiers on September 30, 2020 under number 20-487. The Group maintains an up-to-date monitoring table of the ORNAN tranches issued on its website www.geci.net.
Risk factors
Investors’ attention is drawn to the main risks associated with the Company and its business, which are presented in the registration document approved by the AMF on September 28, 2020 under number R. 20-024, the registration document information disseminated on March 23, 2021 as part of the transfer of the listing of the Company’s shares on Euronext Growth Paris and the annual financial report published on July 22, 2021.
ABOUT GECI INTERNATIONAL
__________
“Smart Solutions for a Smart World”
GECI International, driven by Innovation since its inception in 1980 and combining Technology and Digital, offers cutting-edge digital solutions and technology consulting services for major players in the sectors of Industry, Finance, Research , Services and Telecoms.
GECI International is also deploying a new entrepreneurial dynamic with the development of new offers and new intelligent products serving “smart cities”, thanks to an ecosystem of technological partnerships, commercial alliances and highly qualified skills on a global scale.
At the end of March 2022, the Group had 439 employees in 4 countries (France, Brazil, South Africa and Israel). During the 2021-22 financial year, the GECI International Group achieved annual revenue of €18.3 million.
GECI International is listed on the Euronext Growth Paris market. ISIN code (share): FR0000079634 – ALGEC.
CONTACTS
__________
GECI International – Investor Relations
Such. : +33 (0)1 46 12 00 00 / [email protected]
CALYPTUS Agency – Cyril Combe
Such. : +33 (0)1 53 65 68 68 / [email protected]
[1]
XLP HOLDING, shareholder holding 152,191,911 shares, or 12.64%, 100% controlled by Serge BITBOUL, Chairman and CEO of GECI International.
This post has the “? Actusnews SECURITY MASTER” service.
– SECURITY MASTER Key:
yGyalZdtlJjHlWtwYZpnbWiUbWqSw5WXZ2PHlZNuasrGbG6RyplqmZuVZnBmnWpv
– To check this key:
https://www.security-master-key.com.
Regulated information:
Inside information:
– Other press releases
Full and original press release in PDF format:
https://www.actusnews.com/news/75859-010822-gi-50-ornan_vdef.pdf
© Copyright Actusnews Wire
Receive the company’s next press releases free of charge by email by subscribing to www.actusnews.com