HyGear: Notification of Placement of € 5 Million Subordinated Loan and Transfer of Depository Receipts
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HyGear28 Oct, 2019, 19:55 GMT
ARNHEM, Netherlands, Oct. 28, 2019 /PRNewswire/ -- Green Vision Holding B.V. (Hygear) announces the successful placement of a € 5 million subordinated loan with Ontwikkelingsmaatschappij Oost Nederland N.V. The loan will structured as a facility from which € 2 million will be drawn immediately while the remaining € 3 million will be available in the next two years, depending on the company's needs. The loan terms are comparable to the HyGear III bond, issued on July 3rd 2019 on the NPEX exchanges in The Netherlands, but is subordinated to this bond and all other bonds that are currently tradable on NPEX.
HyGear will use this new growth capital to support the continued roll out of its Gas as a Service business model. In this model, the company owns and operates its proprietary technologies for the production and recovery of hydrogen to serve industrial end-users and companies that use hydrogen as vehicle fuel. The additional growth capital is required to meet the exceeded expectations of increment in market demands for its products.
Aside to this, Green Vision Holding B.V. was informed by shareholders Ontwikkelingsmaatschappij Oost Nederland N.V. and SDI Technology Ventures B.V. on their intent to each convert 109.250 ordinary shares in Green Vision Holding B.V., in total 218.500 ordinary shares or about 5% in the company's outstanding share capital, into depositary receipts. These depository receipts will be transferred to professional investor Paerel Investments B.V. from Amsterdam. Paerel Investments has the intention to place the depository receipts in the NPEX listing, which will increase the publicly tradable share percentage from 11.7% to 16.7%. The total number of shares outstanding will remain unchanged.
About HyGear
HyGear supplies industrial gases like hydrogen, nitrogen and oxygen to industrial end-users by proprietary on-site production and recycling technologies. Besides this, the company supplies hydrogen as fuel for the upcoming market in hydrogen vehicles.
By combining our advanced technologies with traditional supply methods we guarantee the most optimal method of supply in terms of costs, reliability and environmental impact.
Holding company Green Vision Holding b.v. has listed depository share receipts on the NPEX trading platform. Additional company information can be found on www.npex.nl/hygear and on www.hygear.com.
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