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.“