Projects of a capital increase with preferential subscription rights of the order of 11 M and a capital increase reserved for an amount of approximately 23 Million
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Paris, June 19, 2017
Ekinops (Euronext Paris – FR0011466069 – EKI), designer of innovative solutions for transmission on optical fibres for telecom networks for very high speed and the main shareholders of OneAccess, a leading global provider of access solutions network, announced on march 30, 2017 entry into negotiations with a view to a reconciliation in which the proposed terms were detailed in a press release on march 30, 2017.(see press release).
As previously announced, this acquisition of OneAccess by Ekinops would be by way of transfer of shares OneAccess paid in cash for half and the other half, through the contribution of shares OneAccess paid by the issuance of new shares Ekinops, on the basis of a value of transaction of the company OneAccess 58.4 M.
In addition, Ekinops announced it has entered into negotiations with major investors who could participate in the financing of the operation and thus become shareholders of reference. In this context, the negotiations with a view to the completion of this transaction is ongoing as with the shareholders of OneAccess only with the investors with whom the company is in discussion to take account of new funding arrangements envisaged.
The main terms of the new financial arrangements envisaged for this project of reconciliation with OneAccess
Ekinops introduces a capital increase, with maintenance of the preferential subscription right (DPS) of the shareholders, in the amount of about 11 M.
The meeting of the shareholders of Ekinops have to decide on the draft contribution of the shares OneAccess would also have to decide on a capital increase reserved, with suppression of the DPS to the designated persons for the benefit of investors who would participate in the financing for an amount of approximately 23 Million.
The capital increase reserved to investors would occur at the same price as the one retained in the capital increase with preferential subscription rights and would, in particular, conditional on the completion of the contribution in kind of the shares and customary conditions for this type of transaction.
Thus, the transaction could be finalized, the shareholders of OneAccess receiving :
for half the shares Ekinops issued in compensation for their contribution on the basis of a reference price of 7.25 euros per share, adjusted to take account of the impact of the dilutive effect of the capital increases ;
for half by the payment of the sale price in cash.
The merger could be completed during the 3rd quarter of 2017 and the company will keep the market informed of the progress of negotiations.
Ekinops is a leading provider of transmission solutions over optical fiber for telecommunications service providers.
The platform Ekinops 360 meets the needs of metropolitan networks, regional and long distances with a simple architecture and highly integrated. Ekinops is a leading innovator in the field of transport 100G thanks to a line of products consistent which optimizes actually the use of optical networks, and is compatible with its chassis, 1RU, 2RU and 7RU. The system Ekinops 360 is based on technology highly programmable T-Chip® (transport integrated in a chip) which allows rapid deployment, flexible and cost-effective new services for the optical transport for high-speed, high-speed. Using the class system operator Ekinops 360, users can simply increase capacity of their networks-CWDM, DWDM, Ethernet, ESCON, Fibre Channel, SONET/SDH or transport of uncompressed video (HD-SDI, SD-SDI, ASI).
The headquarters of Ekinops is located in Lannion, France, and the company has a subsidiary in the United States, Ekinops Corp.
Name : Ekinops
ISIN Code : FR0011466069
Mnemonic Code : EKI
Number of shares comprising the share capital : 7 369 797
More information on www.ekinops.net
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