Evry (France) – November 3rd, 2014 – Global Bioenergies (Alternext Paris: ALGBE) carries out a new draw down on the equity line signed on May 16th, 2014 with Yorkville Advisors. Global Bioenergies issues 2,750 new shares individually priced at 36.40 euros as part of this new draw down.
As per the signed agreement, the issued price of these new shares includes a 5% discount on the lowest weighted average price of ordinary shares traded during the previous five consecutive trading days. The funds will be distributed amongst the Company’s programs. The 2,750 new shares, which result in an equity dilution inferior to 0.1%, will be freely tradable on Alternext Paris and assimilated with the existing 2,765,718 shares. François-Henri Sahakian, CFO at Global Bioenergies, declares: “This equity line has been signed with the aim of increasing the liquidity of our stock, which has more than doubled from September to October. The shares released from the last two advances of October 3rd and October 13th contributed to this increase. While the Company is not subject to any financial pressure, it will keep using this line with relevance, when the market is favorable. As a reminder, the latest figures as of June 30th, 2014 present a moderate loss of €3.9 million compared to a cash position of €19.5 million”.
About GLOBAL BIOENERGIES
Global Bioenergies is one of the few companies worldwide, and the only one in Europe, that is developing a process to convert renewable resources into hydrocarbons through fermentation. The Company initially focused its efforts on the production of isobutene, one of the most important petrochemical building blocks that can be converted into fuels, plastics, organic glass and elastomers. Global Bioenergies continues to improve the yield of its process and is actively entering the industrial pilot testing phase. The company recently replicated this success to propylene and butadiene and is also looking to continue with other members of the gaseous olefins family, key molecules at the heart of petrochemical industry. Global Bioenergies is listed on Alternext, Euronext Paris (FR0011052257 – ALGBE)
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