Vénissieux, 19 July 2021
At its meeting of Friday, 16 July 2021, BOOSTHEAT's Board of Directors noted a bond issue of around €5 million subscribed entirely by main shareholders and directors to accompany and support BOOSTHEAT's strategic turnaround under the aegis of its Chief Executive Officer, Éric Lambert.
“I am delighted with the success of this bond issue, which reflects the Board of Directors' desire to give us the means to take BOOSTHEAT in a new direction,” comments Éric Lambert, Chief Executive Officer of BOOSTHEAT.
The financing of around €5 million will be in the form of a bond issue with the option of redemption in cash or in shares at the Company's discretion. The issue was subscribed by a pool of main shareholders and directors, including HOLDIGAZ (€3,925,000), OFFICIUM PROJECTS (€200,000), FLUXYS (€25,000), UMA (€250,000) and Mr. Luc Jacquet (€550,000), whose representatives are directly or indirectly directors of the Company and who wanted to give the Company the means to achieve the roadmap drawn out by its Chief Executive Officer. The bonds subscribed will bear interest at a rate of 1% and mature on 23 July 2022.
If its share listing is transferred to the Euronext Growth market, the Company will have the option of early redemption of the principal amount of the bonds and interest either in cash or, subject to the necessary authorisations, in the Company's shares by means of offsetting receivables. The price of the shares has been set at €1.5422, corresponding to the weighted average share price during the 20 trading sessions preceding the date of the Board of Directors' decision concerning the bond issue.
The Board of Directors also noted the resignation of Mr. Luc Jacquet, former Chief Executive Officer and co-founder of the Company, as Board member, who plans to focus on new professional and personal projects. He will be replaced by a future Board member with the experience to accompany the Company in its new ambitions.
Next event: Half-year activity review, 20 July 2021, before market opening
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Founded in 2011, BOOSTHEAT designs, develops, manufactures and sells high-tech energy efficient and sustainable heating solutions. Fitted with a patented thermal compressor, the new generation BOOSTHEAT boilers offer up to 200% efficiency and can cut energy consumption by up to half. More economical and eco-friendly than existing solutions, BOOSTHEAT boilers immediately generate dramatic reductions in environmental impact.
The Company's mission is to accelerate energy transition through its products by making them affordable to the widest possible spectrum of the population. BOOSTHEAT has its head office and manufacturing plant in Vénissieux, near Lyon (historically an HVAC* industrial zone). The Company holds the Entreprise Innovante (Bpifrance) and French Fab labels. The BOOSTHEAT share is listed on Euronext Paris, Compartment C (ISIN: FR0011814938).
* Heating, ventilation and air-conditioning
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