Date: 2015-10-15
Type of information: Establishment of a new subsidiary in the EU
Company: AB Science (France)
Investors: Crédit Agricole Corporate and Investment Bank (France)
Amount: € 50 million
Funding type: loan
Planned used: AB Science has no minimum drawdown obligation, and will use the facility at its sole discretion if market conditions are favourable and in the best interests of both the Company and its shareholders.
Others: * On July 20, 2015, AB Science announced the conclusion of an Equity Line with Crédit Agricole Corporate and Investment Bank, as authorised by the Shareholders’ Meeting held on 22 June 2015. Under the terms of the agreement, Crédit Agricole CIB has committed to purchase new shares during a 36- month commitment period, within the global limit of 3,340,000 shares, representing 9.85% of the shares currently outstanding. Should the entire Equity Line be drawn down and resulting in the issuance of 3,340,000 new shares, a shareholder who currently owns 1% of the Company’s share capital would experience a reduction of his / her ownership to 0.91% on a non-diluted basis and to 0.67% on a diluted basis. Consolidated Shareholders’ Equity per share (in euros) Non-diluted basis Diluted basis Before issuance of 3,340,000 shares -0.53 +3.17 After issuance of 3,340,000 shares +0.9 +3.96
For each drawdown, the subscription price is computed as the volume weighted average share price during the three trading days preceding the effective date of subscription, with a discount capped at 5% and depending on the size of the drawdown. The new shares issued will be subsequently sold on- or off-market by Crédit Agricole CIB.
Based on the current share price, the amount of equity that could be raised through this Equity Line could reach a total of approx. € 50 million. By way of illustration, based on the latest share prices and the consolidated financial statements as at 31 December 2014, the per-share value of consolidated shareholders’ equity attributable to the group would be as follows:
This equity line comes on top and does not replace the PACEO® that the Company has in place since July 2014.
Therapeutic area: Rare diseases - Cancer - Oncology
