Home Philatelic investment Convertible loan issue completed

Convertible loan issue completed



Company announcements n ° 13-2021

Søborg, August 30, 2021

VSconvertible loan problem completed

Following the Extraordinary General Meeting of Konsolidator A / S held on Thursday August 26e 2021 and in accordance with company announcement no. 8 of July 21, 2021, the Board of Directors made use today of the authorization provided for in article 4.5 of the articles of association of the company to issue a convertible loan and to approve the related capital increase.

The loan agreement is for a convertible loan in the principal amount of DKK 25 million from Formue Nord to Konsolidator. The loan will be disbursed in one go and will be available to Konsolidator on September 1, 2021. A commitment fee of 5.5% will be paid to Formue Nord, resulting in net proceeds of DKK 23.6 million. for the society. Interest is 8% per annum and is payable quarterly. Konsolidator has the right to repay the loan at any time with 14 days notice. In this case, the North Formula may choose to be reimbursed in cash or to convert into shares. The loan is repayable in full on September 1, 2023.

The loan gives Formue Nord the right, but not the obligation, to convert the loan, in whole or in part, into Konsolidator shares at a price of DKK 25.00 per share. Therefore, if the total loan amount of DKK 25 million is converted into Konsolidator shares at this price, 1 million new shares will be issued, corresponding to a nominal value of DKK 40,000. In the event that Konsolidator issues shares at a lower price prior to repayment or conversion of the loan, the share price at which Formue North can convert the loan into shares will be reduced accordingly.

CEO: Claus Finderup Grove, mobile +45 2095 2988, cfg@konsolidator.com
Chief Financial Officer: Jack Skov, mobile, +45 2282 8845, js@konsolidator.com

On Consolidator
Konsolidator A / S is a financial consolidation software company whose primary focus is to improve Group CFOs worldwide through automated financial consolidation and cloud reporting. Created by CFOs and auditors and powered by innovative technology, Konsolidator takes the complexity out of financial consolidation and enables the CFO to save time and gain actionable insights based on key performance data to become a component essential for strategic decision-making.

Konsolidator A / S
Vandtårnsvej 83A
2860 Søborg

Certified advisor
Grant Thornton
Stockholmsgade 45
2100 Copenhagen

  • Company announcement n ° 13 2021