OTI Greentech AG
OTI Greentech AG: Conversion of convertible bonds into shares completed
DGAP-News: OTI Greentech AG
/ Key word(s): Bond
OTI Greentech AG: Conversion of convertible bonds into shares completed
Berlin, 5 December 2019 – OTI Greentech AG (ISIN DE000A2TSL22), an international provider of innovative and sustainable chemicals and services for industrial applications listed on the over-the-counter market of the Düsseldorf stock exchange, announces that all convertible bonds with a total amount of EUR 2.9 million were converted into new ordinary bearer shares of OTI Greentech AG at a ratio of EUR 1 debt to 1 share. The conversion price is above the current market price of the OTI Greentech share of EUR 0.52 (closing price 03.12.2019). The share capital of OTI Greentech AG will amount to EUR 4,698,602.00 divided into 4,698,602 shares after the registration of this transaction. With the successful conversion OTI fulfilled both the condition for the lenders’ commitments to convert loans into shares of OTI Greenteh AG (see Ad-hoc dated May 31, 2019) as well as an essential requirement for the planned full acquisition of KMI Cleaning Solutions Inc. (see Ad-hoc dated May 16, 2019). Dr. John C. Kisalus, CEO of OTI Greentech AG, explains: ” The complete conversion at 1 Euro is a great sign of confidence in our business development on the part of creditors who now became important shareholders of the company. The conversion is an important step for further debt reductions and the planned acquisition of KMI Cleaning Solutions Inc.”
OTI Greentech’s patented surfactant based technology provides innovative sustainable and cost-efficient solutions for various industrial cleaning challenges, with potential for application in land remediation. Through its subsidiaries OTI Greentech Innovative Solutions and Uniservice Unisafe, OTI Greentech has more than 30 years of experience. OTI Greentech Innovative Solutions offers innovative, environmentally friendly products and solutions for the cleaning and decontamination of oil-based contaminants, and is the owner of the patented ECOSOLUT product line. Through Uniservice Unisafe a full range of products and services are provided to the global shipping industry in all major ports worldwide. Through its joint venture in the USA, the group offers innovative, sustainable and tailor-made solutions to its customers in land-based industrial cleaning. The OTI Greentech group currently has over 20 employees in Europe and the USA. The shares of OTI Greentech AG are listed on the over-the-counter markets of the Düsseldorf Stock Exchange (WKN A2TSL2). Corporate headquarters are located in Berlin, Germany.
Contact:
05.12.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | OTI Greentech AG |
Potsdamer Platz 1 | |
10785 Berlin | |
Germany | |
Phone: | +49 30 220 136 900 |
Fax: | +49 30 690 884 88 |
E-mail: | info@oti.ag |
Internet: | www.oti.ag |
ISIN: | DE000A2TSL22 |
WKN: | A2TSL2 |
Listed: | Regulated Unofficial Market in Dusseldorf |
EQS News ID: | 928513 |
End of News | DGAP News Service |