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ANTEOTECH LTD — Capital/Financing Update 2015
Dec 17, 2015
64304_rns_2015-12-17_c6928f21-c279-464f-9d1d-7a16ebd0d8cc.pdf
Capital/Financing Update
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18 December, 2015
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Approval of €10 million Convertible Note facility
Anteo Diagnostics Limited (ASX:ADO) (“ Anteo or the “ Company ”) is pleased to announce that the Canadian investment house has approved the €10 million senior secured convertible note financing facility for the acquisition of DIAsource ImmunoAssays S.A (“ DIAsource ”).
The approval is subject to the parties entering into formal documentation and other conditions which are typical for such a facility.
As previously advised the Convertible Note provides for the repayment of principal and interest over a 48 month period. The Convertible Note has a 10% p.a. coupon and can be converted into ordinary Anteo shares at any time, up to 48 months from the date of issue (at the election of the investors), with a minimum conversion price of $0.15 and tranche of €500,000.
Anteo has accepted the offer and paid a commitment fee of €400,000. In the unlikely event that Anteo decides to withdraw from the Convertible Note facility a break fee of €1,000,000 would be payable.
It is anticipated that the Convertible Note will be repaid by Anteo from the cash flow generated by the combined operations of Anteo and DIASource.
The Board is of the view that the funds raised under the Convertible Note combined with capital raised from the current Entitlement Issue will enable Anteo to complete the acquisition of DIAsource. The Board is confident that this facility and the acquisition of DIAsource will be brought to a successful conclusion and move the Anteo group forward with increase strength and vigour.
For further information, see our website (www.anteodx.com) or contact the persons listed below.
| Company | Media and InvestorsSean Kennedy, PAC PartnersE: [email protected]T: +61 414 185 797Jane Lowe, IR DepartmentE: [email protected]T: + 61 411 117 774 |
|---|---|
| Dr. Geoff Cumming, Chief Executive OfficerT: + 61 7 3219 0085Richard Martin, Chief Financial OfficerT: + 61 7 3219 0085 |
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About Anteo
Anteo Diagnostics Limited (ASX: ADO) is a global medical technology company, developing and commercialising products for sale into the lifesciences, in-vitro diagnostics, point of care, medical devices and bioseparations markets.
The Anteo group owns a patented nanoglue technology, which is used by healthcare customers as an addition to their existing tests, to consistently enable laboratory test results that can either be delivered faster, cheaper, or with greater specificity or sensitivity than incumbent tests.
This nanoglue technology, called Mix&Go for healthcare markets, is starting to gain traction with the Company’s target markets, due to its ability to revolutionise the way scientists work.
While Anteo is largely focused on the healthcare markets, the nanoglue technology also has potential for use in other areas, such as batteries. Early stage research is being conducted into the viability of this battery product.
For more information, please visit www.anteodx.com .
About DIAsource
DIAsource ImmunoAssays S.A. is a global specialty diagnostics company that develops, manufactures, markets and distributes clinical diagnostic products in the field of endocrinology, with a leading portfolio of Vitamin D products and comprehensive catalogue of ELISA and RIA products offered to customers worldwide. DIAsource is a vertically integrated company, from R&D and antibody production through to customer service solutions that include lab automation instrumentation.
DIAsource is present in 75 countries and sells products both directly and through a global network of 90 main distributors and 40 OEM partners.
For more information, please visit www.diasource-diagnostics.com
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