Press release
OTI Greentech AG successfully issues first tranche of convertible bond
• 1.9m EUR of total of 4.0m EUR already placed• Convertible bond will be admitted to trading on the Stuttgart Stock Exchange
• Foundation for further growth laid
Berlin, 06.05.2015 –OTI Greentech AG, a fast growing international Cleantech-solutions provider, whose shares are traded on the Düsseldorf Stock Exchange, has completed the issue of the first tranche of a convertible bond in the amount of 1.9m EUR with investors and the admission of the bond for trading on the Stuttgart Stock Exchange. In doing so, the company has completed a further important step in implementing its growth strategy. A total of 4.0m EUR of convertible debt is being offered to investors by way of private placement.
The bond carries a coupon of 8.5% per annum, paid semi-annually, as well as a right to convert into common stock of OTI Greentech AG at a conversion price of 1.65 EUR. The term of the bond runs for 3.5 years until 30.10.2018. The company will use the proceeds from the bond towards increasing operational resources in order to support the growth of the company. In particular, investments in R&D and patents are planned, as well as an equity increase in VTT, the subsidiary active in maritime operations.
“We will be using the proceeds of the bond to support our growth strategy”, commented Johnny Christiansen, CEO of OTI Greentech AG on the successful part placement.
About OTI Greentech AG
OTI Greentech is a provider of engineering services and environmentally-friendly solutions to its customers world-wide. OTI Greentech operates through three market segments: Maritime, Energy and Industrial. The Maritime segment provides products, consultancy and engineering services to the global shipping and offshore oil & gas industries. The Energy segment provides innovative products and solutions (including EOR - Enhanced Oil Recovery). The Industrial segment provides environmentally-friendly OTI Greentech products and services in cleaning and waste management (including drilling muds and tailings ponds) as well as complex engineering services in infrastructure projects. OTI Greentech develops new generation environmentally-friendly chemicals for the above applications including the patented ECOSOLUT range of chemicals. The shares of OTI Greentech AG are listed on the Düsseldorf Stock Exchange.
Contact:
edicto GmbH
Axel Mühlhaus, Werner Rüppel
amuehlhaus@edicto.de
Tel. +49 69 905505-52
Eschersheimer Landstr. 42-44
60322 Frankfurt
OTI Greentech AG
Ralf Groenemeyer, CFO
info@oti.ag
Tel. +49 30 2089 860-85
Kleiststr. 23-26
10787 Berlin
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