Novacyt S.A. SETTLEMENT AND REDEMPTION OF CONVERTIBLE BONDS (3288V)
02 November 2017 - 6:00PM
UK Regulatory
TIDMNCYT
RNS Number : 3288V
Novacyt S.A.
02 November 2017
SETTLEMENT AND REDEMPTION OF ALL OUTSTANDING YORKVILLE
CONVERTIBLE BONDS
Removes potentially dilutive instrument
Strengthened balance sheet supports future growth
Paris, France and Cambridge, UK - 2 November 2017 - Novacyt
(EURONEXT GROWTH: ALNOV; AIM: NCYT), an international specialist in
clinical diagnostics, today announces the full redemption and
settlement of the 40 pending convertible bonds (the "OCA") under
the Yorkville facility agreement, with immediate effect.
In July 2015, Novacyt executed a flexible bond financing
instrument with Yorkville for a maximum of EUR5.0m over three years
to support the planned growth of the Group. The Company has drawn
down EUR3.75m (i.e. 15 of the original 20 tranches) up to the date
of admission to AIM with EUR0.4m of this remaining unconverted into
equity. The Company has agreed to make a full and final repayment
of EUR0.4m to Yorkville to redeem all these remaining outstanding
convertible bonds.
Furthermore, the Company confirms it will make no further
drawdowns against the Yorkville facility agreement.
Anthony Dyer, Chief Financial Officer of Novacyt, commented:
"We would like to thank Yorkville for their support and
flexibility during a transformational stage in the Company's
evolution. The funds raised as part of the dual listing on AIM have
strengthened our balance sheet, allowing us to redeem a potentially
dilutive convertible instrument. In addition, this strengthened
balance sheet supports the Company along its pathway to sustainable
profitability and positive cash flow generation."
For further information, please contact:
Novacyt SA
Graham Mullis, Chief Executive Officer
Anthony Dyer, Chief Financial Officer
+44 (0)1223 395472
Stifel Nicolaus Europe Limited (Nominated Advisor and Joint
Broker)
Jonathan Senior / Fred Walsh / Ben Maddison
+44 (0)20 7610 7600
WG Partners (Joint Broker)
Nigel Birks / Claes Spång
+44 (0) 203 705 9330
International
Brett Pollard / Victoria Foster Mitchell
FTI Consulting
+44 (0)20 3727 1000
brett.pollard@fticonsulting.com /
victoria.fostermitchell@fticonsulting.com
France
Arnaud de Cheffontaines / Astrid Villette
FTI Consulting
+33 (0)147 03 69 47 / +33 (0)147 03 69 51
arnaud.decheffontaines@fticonsulting.com /
astrid.villette@fticonsulting.com
About Novacyt Group
The Novacyt Group is a rapidly growing, international
diagnostics group with a growing portfolio of cancer and infectious
disease products and services. Through its proprietary technology
platform, NOVAPrep(R), and molecular platform, genesig(R), Novacyt
is able to provide an extensive range of oncology and infectious
disease diagnostic products across an extensive international
distributor network. The Group has diversified sales from
diagnostic reagents used in oncology, microbiology, haematology and
serology markets, and its global customers and partners include
major corporates.
For more information please refer to the website:
www.novacyt.com
This information is provided by RNS
The company news service from the London Stock Exchange
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