Azerion simplifies loan structures between Azerion and Principion
Amsterdam, 11 December 2023 – Azerion Group N.V. ("Azerion") announces that it has today entered into an agreement with Principion Holding B.V. ("Principion") to simplify Azerion's loan structure by settling several loans outstanding between Azerion and Principion (the "Loan Settlement").
- Amsterdam, 11 December 2023 – Azerion Group N.V. ("Azerion") announces that it has today entered into an agreement with Principion Holding B.V. ("Principion") to simplify Azerion's loan structure by settling several loans outstanding between Azerion and Principion (the "Loan Settlement").
- The Loan Settlement also provides Azerion the ability to use any ordinary shares in the capital of Azerion (the "Shares") to be acquired through the Loan Settlement mechanism for value creating purposes for all shareholders without the issuance of new Shares.
- As at the date of this press release, the aggregate amount due and outstanding under the loans provided by (i) Principion to Azerion is approximately EUR 17.5 million, and (ii) Azerion to Principion is approximately EUR 36 million.
- Principion will grant a right of pledge over 10,548,229 Shares held by Principion to Azerion group, as security for payment of the Remaining Loan Amount.