Capelle aan den IJssel, the Netherlands, 4 February 2020: Today, AND International Publishers NV is pleased to announce that it has reached a definitive agreement with a group of investors with respect to a convertible loan as communicated in the previous press release dated 27 December 2019.
As a result of increased interest amongst the investors, the amount of the loan has been raised to €1.15 million. The loan bears an interest of 9% p.a. (of which 3% cash and 6% PIK) and is secured by a.o. a pledge on the IP owned by AND as well as a pledge on shares of a subsidiary. Furthermore, the loan has a duration of 2 years and is convertible during this period into ordinary AND shares at a conversion price of €1.85 per share.
With this financing now secured, AND is confident that it will be able to deliver on its strategic objectives.
T.P. Jaccoud
CEO
About AND
AND is one of the few digital mapping companies offering seamless, worldwide coverage. AND's focus is to create and deliver market leading, relevant, innovative and tailored location-aware content which fosters a safer and more sustainable world. Using smart technology, we constantly enrich and update our global data and offer an end-to-end portfolio of location-aware products and services.
For more information contact:
Thierry Jaccoud
CEO
Tel +31 (0)10 885 1200
thierry.jaccoud@and.com (mailto:thierry.jaccoud@and.com)
