MND raises € 6 million in a private placement

The Group MND announces the success of the capital increase by private placement, launched the day before with institutional investors. MND has placed 1 189 904 new shares, at a price of 5.05 € premium included, representing 10% of the share capital of the Company admitted to negotiations. The Offer was largely subscribed to.

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Xavier Gallot-Lavallée, ceo of MND, said : “We are very pleased with the success of this placement which demonstrates investors’ confidence in the strategy of development of MND and in its objective of doubling in size by 2020. The strengthening of the own funds of the Group gives us increased financial flexibility to support the rapid growth expected, lead to the industrialization needed and capture more business opportunities, in particular on the asian continent.”

In the framework of this capital increase with cancellation of the preferential subscription right, the subscription price of the shares of MND was set to 5.05 euros per share (issuance premium included), corresponding to a discount of 17.6% over the closing price of the 19 June and 17% compared to the average price weighted by the volumes of the action MND on the regulated market of Euronext Paris during the five Trading days preceding the fixing of the price of the issue.

This operation is carried out by an offer referred to in article L. 411-2 II of the French monetary and financial Code, within the framework of the delegations of competence granted by the Mixed General shareholders Meeting of the company dated September 30, 2016, under the terms of its 10th and 14th resolutions, according to the modalities defined by the Board of directors of 14 June 2017 and by decision of the President-Director-General dated 19 June 2017.

At the end of the transaction, MND proceeds to the issuance of 1,189 904 new ordinary shares, bringing the total number of shares of MND in 14 088 310 shares. The issued shares represent 9.2% of the share capital before the operation and 8.4% after, and 6.2% of the voting rights after the transaction.

The new shares are assimilated with the existing shares. They will be listed on the regulated market of Euronext on the same listing line as the existing shares under ISIN code FR0011584549. The settlement and delivery and admission of the new shares issued in connection with the Private Placement on the regulated market of Euronext Paris will take place the 22 June 2017.

In connection with the Private Placement, the Company entered into an undertaking of abstention for a period of 90 days from the date of settlement-delivery of the Private Placement.

Pursuant to article 211-3 of the general Regulation of the Autorité des marchés financiers (AMF), the offering of the shares of the Company within the framework of this private placement did not result in a prospectus submitted to the visa of the AMF.

The investment was led by Gilbert Dupont as quality Leader and bookrunner.

Located in Sainte-Hélène-du-Lac (Savoie, France), in the heart of the Alps, since 2004, MND Group is one of the only actors in the industrial world to hold a global offer of products and services dedicated to the development, planning and securing of ski areas, recreation sites, access roads and other infrastructure in the mountains. On the strength of its industrial expertise in the transport cables of the mountain and of innovative technology, protected by international patents, the MND Group holds a tremendous potential for growth in the field of urban collective transport to cables by providing a mode of urban mobility and soft alternative. With 5 production sites, 8 sales subsidiaries, international and 30 distributors worldwide, the MND Group has 350 employees and almost 3,000 customers in 49 countries.

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