€0.5M OF FUNDS RAISED THROUGH AN ORNAN BOND TRANCHE ISSUE
AND €0.2M OF ADDITIONAL FINANCIAL SUPPORT FROM A LEADING SHAREHOLDER TO ROLL OUT THE GROUP'S NEW STRATEGIC EXPANSION
The GECI International Group, the Digital and Technology specialist, is announcing that a leading shareholder (XLP Holding) has made a commitment to make a €0.2m financial contribution, alongside €0.5m of funds raised by drawing down a tranche of 50 ORNAN bonds redeemable in cash and/or new shares (“ORNAN bonds”) and the corresponding exercising of 50 ORNAN bond warrants by the investment fund YA II PN, LTD. These new resources will enable the Group to further strengthen its financial structure and accelerate the rollout of its new expansion strategy.
The operation to draw down a tranche of 50 ORNAN bonds, authorized by the General Meeting on November 12, 2020, is part of the financing for a maximum net total of €9.3m set up on September 30, 2020, aimed at further strengthening the Group's equity and financial structure.
This drawdown will help enable the Group to have the financial resources needed to cover its cash requirements and commitments over the short and medium term, while reducing its debt. Following this drawdown, the residual financing capacity based on ORNAN bonds represents a gross total of €4.5m.
Alongside these funds, XLP Holding, the company controlled by Mr Serge Bitboul, which held 12.64% of the Group's capital at end-July 2022, has made a commitment to provide €0.2m through a partner current account contribution. This additional financial support highlights the confidence in the Group's outlook and new strategy.
In addition to further strengthening the Group's equity, these new financial resources will support the rollout of the innovation strategy on smart city markets, with the development of an incubation ecosystem based around capital partnerships or business alliances, while helping drive the development of new smart products and services with strong potential for growth.
This transformation of the Group, in a disruptive international context, will enable it to ramp up its development across complementary activities, combining Digital and Technology, and to sustainably strengthen its attractive positioning, its growth and its profitability.
ORNAN bond conditions and features
For reference, the conditions and features of the financing and the ORNAN bonds are presented in the prospectus approved by the French financial markets authority (Autorité des Marchés Financiers, AMF) on September 30, 2020 under number 20-487. The Group's website (www.geci.net) includes an up-to-date dashboard monitoring the tranches of the ORNAN bonds issued.
Investors' attention is drawn to the main risks associated with the Company and its activity, which are presented in the registration document approved by the AMF on September 28, 2020 under number R. 20-024, the information memorandum published on March 23, 2021 in connection with the transfer of the listing of the Company's shares to 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 it was founded in 1980 and combining Technology and Digital, provides advanced digital solutions and technology consulting services for major players from the Industry, Finance, Research, Services and Telecoms sectors.
GECI International is also rolling out a robust new entrepreneurial approach with the development of new smart products and solutions for smart cities, thanks to an ecosystem of technological partnerships, business alliances and highly qualified capabilities around the world.
At end-March 2022, the Group had 439 staff across four countries (France, Brazil, South Africa and Israel). During FY 2021-22, the GECI International Group recorded full-year revenues of €18.3m.
GECI International is listed on the Euronext Growth Paris market. ISIN (shares): FR0000079634 – ALGEC.
GECI International - Investor Relations
Tel: +33 (0)1 46 12 00 00 / firstname.lastname@example.org
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 The company XLP HOLDING, which holds 152,191,911 shares, representing 12.64%, fully controlled by Serge Bitboul, GECI International's Chairman and CEO.