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Targetspot S.A. Capital/Financing Update 2019
4007_iss_2019-07-01_88b5457c-5594-47e2-a346-8196262f7362.pdf
Capital/Financing Update
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Press release
www.audiovalley.com
1 July 2019 – 5.30pm CEST Audiovalley: Caroline Dupuis [email protected] Actifin: Victoire Demeestère [email protected]
Acquisition of Radionomy/TargetSpot: renegotiation with Vivendi of the terms of vendor credit early repayment
AudioValley, an international specialist in BtoB digital audio solutions, (ISIN Code: BE0974334667/Ticker: ALAVY) announces it has signed an agreement with Vivendi on the renegotiation of the terms of the vendor credit early repayment clause established during the acquisition of the majority stake in the Radionomy/TargetSpot activity.
In August 2017, AudioValley acquired the 64.4% stake held by Vivendi in Radionomy Group BV. AudioValley now owns 98.53% of the company's capital.
At the end of June 2019, the vendor credit balance related to the financing of this operation stood at €24.7 million, payable in cash in several annual instalments between 2019 and 2025.
Under the new agreement, this debt may now be paid off no later than 30 October 2019, which would allow AudioValley to benefit from a discount of up to 39%, or a potential reduction of €9.7 million. Note that the initial repayment agreement provided for a discount of up to 30% (over €7 million) if implemented no later than 30 June 2019.
Future updates (after the stock market closes):
Turnover for H1 2019 16 July 2019
Half-yearly results for H1 2019 16 October 2019
Press release
www.audiovalley.com
1 July 2019 – 5.30pm CEST Audiovalley: Caroline Dupuis [email protected] Actifin: Victoire Demeestère [email protected]
CONTACTS
AUDIOVALLEY Caroline Dupuis +32 (0) 2 466 31 60 [email protected]
ACTIFIN, financial communication Victoire DEMEESTERE +33 (0)1 56 88 11 11 [email protected]