Europlasma: Reserved Capital Increase Over-Subscribed - Private Placement Fully Subscribed - Governance Changes ImplementedBy Europlasma, PRNE
Tuesday, August 24, 2010
BORDEAUX, France, August 25, 2010 - The two capital increases launched by Europlasma on July 12th,
2010 with a view to financing part of its share for building the first
CHO-Power plant have been carried out successfully. They will enable the
Group to start building the first CHO-Power unit at the Morcenx site very
The first capital increase with preferential subscription
rights maintained was a resounding success. To meet the excess demand, the
extension option concerning 15% of the total gross amount of the operation
was exercised in full. In this way, the operation was increased from an
initial amount of 1,982,578.65 euros to 2,279,964.75 euros following the
exercising of the extension clause, with the creation of 1,470,945 new
ordinary Europlasma shares.
The second capital increase, through a private placement with
qualified investors, was also fully subscribed for. This operation represents
4,029,112.50 euros, based on the issuing of 2,302,350 new preferred shares at
a price of 1.75 euros per share.
The funds raised - over 6.3 million euros - will enable
Europlasma to complete the closing of its deal with its financial partner who
will bring in total 26MEUR (capital and interests), enabling the launch in
the coming days of the construction of the first CHO-Power plant (biomass
and/or residual waste power production based on an enhanced gasification
technique using the plasma torch's technological advances) in Morcenx
(France, 40). Overall, the project financing of this plant will go up to
40MEUR, raised in less than 6 months.
For Didier Pineau, the Europlasma Group's Chief Executive
Officer, "The success of these two operations within a tough market
environment and the usually unfavorable summer months proves the relevance of
the CHO-Power concept and reflects the result of human and financial efforts
made over the past few months in order to make this concept a reality. I
would like to thank the Group's many individual shareholders as well as our
main shareholders for this further expression of their support, which is
going to make it possible to start building our first CHO Power plant with
our financial partner."
Furthermore, as announced at the general shareholders' meeting
on June 30th, the Group's governance structure is changing. The Board of
Directors has elected Pierre Catlin as Non Executive Chairman. Pierre Catlin
has over 25 years of C-level experience within the Suez Group and has strong
expertise in the waste and utilities industries. He had joined Europlasma as
a member of its Strategic Investments Committee in May 2009. Didier Pineau 's
Group CEO position has been renewed for 5 years., as well as Jean Claude
Rebischung's position of Group Deputy Chief Executive.
The structure of the Board of Directors is now as follows: - Pierre Catlin, Non Executive Chairman, - Didier Pineau, Group Chief Executive Officer, - Jean-Claude Rebischung, Group Deputy Chief executive and CEO of Europe Environnement, - Kim Ying Lee, - Erik Martel, representing preferred shareholders, - Roger Ammoun, DLJ MB Advisor's permanent representative.
Founded in 1992, Europlasma is a French Group specialized in clean
technologies and renewable energy production. The Europlasma Group is made up
of four main units and 260 employees who are all firmly committed to
sustainable development and experts in waste processing and reclamation.
- Europlasma develops, produces and markets waste processing and energy production solutions based on its proprietary plasma torch technology. - Inertam is the global specialist for the destruction and reclamation of asbestos and hazardous waste. - CHO Power is a waste gasification power producer (EfW - Electricity from Waste). - Europe Environnement is the European market leader for ventilation and air depollution systems for industry. www.europlasma.com Alternext - NYSE Euronext Paris Ticker: ALEUP ISIN: FR0000044810]
Press and investor contacts Europlasma Didier Pineau / Anne Borderes email@example.com Tel: +33-5-56-74-73-72 Atout Capital Finance Eric Parent / Melanie Bonanno firstname.lastname@example.org Tel: +33-1-56-69-61-81 Calyptus Marie Ein / Alexis Breton email@example.com Tel: +33-1-53-65-68-68
Press and investor contacts: Europlasma, Didier Pineau / Anne Borderes, contactbourse at europlasma.com, Tel: +33-5-56-74-73-72; Atout Capital Finance, Eric Parent / Melanie Bonanno, melanie.bonanno at atoutcapital.com, Tel: +33-1-56-69-61-81; Calyptus, Marie Ein / Alexis Breton, europlasma at calyptus.net, Tel: +33-1-53-65-68-68
Tags: August 25, Bordeaux, Europlasma, France