Evry, 5 October 2015 – Global Bioenergies (Alternext Paris: ALGBE/eligible for PEA-PME) announces the implementation of an optional line of equity financing (PACEO®) with Société Générale.
At the current share price, the utilisation in full of this line of financing would procure for the Company an additional funding of 9 million euros.
Subject to certain conditions, most notably the Company’s right to suspend execution of the program at any time, Société Générale has committed to subscribing 250,000 new shares during the course of the next 36 months, or 8.9% of the current capital. In case of full utilisation of the line, a shareholder holding 1% of the capital would see his equity investment go to 0.92% of the capital.
For each tranche, the issue price will include a discount of 5% relative to the average weighted price by volume of the preceding stock exchange session. This discount makes it possible for Société Générale, which does not intend to retain its stake in the Company, to guarantee the subscription of the shares despite possible volatility of the financial markets.
At the same time, the equity line agreement entered into with Yorkville Advisors on 16 May 2014 is terminated and the 97,736 share issuance warrants related to this agreement and not exercised to date are invalid.
François-Henri Sahakian, Global Bioenergies’ CFO, states: “Global Bioenergies has good financial visibility: the gross cash of the Group was 13.8 million euros at 30 June 2015 (audited), and 14.1 million euros at 30 September 2015 (not audited). We can also count on 5 million euros in subsidies remaining to be received from the BMBF (German Federal Ministry of Research) and 1.7 million euros from the French State (Investment for the Future). The line of financing obtained from Société Générale reinforces the financial situation of Global Bioenergies for the medium term.”
Marc Delcourt, CEO of Global Bioenergies, concludes: “Global Bioenergies is approaching the most value-generating phase of its history: the startup of the demo plant. The construction of the demo plant is underway, and should be ended in July 2016. The line of financing signed with Société Générale will bring us the means to start up and operate the demo plant, prerequisite to exploiting the process on a large scale.”
 €36.14 at the closing price of 01/10/2015
 Entailing the issuance of 250,000 new shares
 On the basis of 2,800,197 shares making up the capital of Global Bioenergies
About GLOBAL BIOENERGIES
Global Bioenergies is one of the few companies worldwide, and the only one in Europe, that is developing a process to convert renewable resources into hydrocarbons through fermentation. The Company initially focused its efforts on the production of isobutene, one of the most important petrochemical building blocks that can be converted into fuels, plastics, organic glass and elastomers. Global Bioenergies continues to improve the performances of its process, operates its industrial pilot, has begun the construction of its demo plant in Germany, and prepares the first full-scale plant through a Joint-Venture with Cristal Union, named IBN-One The company also replicated its achievement to propylene and butadiene, two members of the gaseous olefins family, key molecules at the heart of petrochemical industry. Global Bioenergies is listed on Alternext, Euronext Paris (FR0011052257 – ALGBE).
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An equity financing solution created by Société Générale, PACEO makes it possible for issuers to diversify their sources of financing while contributing additional flexibility, all while optimising the balance sheet structure. Available by successive drawdowns in exchange for the issuance of new shares at a price correlated to the market price of the moment, PACEO procures the same economic and financial benefits as a capital increase, all while offering the same guarantee as a confirmed line of credit. Société Générale, leader of equity line operations in France, is putting into place with this transaction its 51st PACEO®.
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