Option financial notification

Option financial notification 
LEUVEN, BELGIUM -- (Marketwire) -- 01/24/13 --  
Regulated information 
07.00 - Option  (EURONEXT Brussels: OPTI; OTC:  OPNVY), a global
leader in wireless connectivity, security and experience,
announces that the Board of Directors  has revised its plans with
to  the strengthening of the Company's  working capital. As
previously announced
in the financial notification issued on October
10, 2012, the Company is looking
to  raise cash in order  to secure
its going  concern.  In addition, the Company
continued  to be
focused on the further reduction  of its costs basis and on the
diversification  of the sales- and marketing efforts.  The actions
taken in the
last quarter of 2012 have contributed to lower the cash
burn resulting in a cash
position of 3,2 million EUR by the end of
December 2012. 
Following discussions with interested parties the Board has decided
to raise the amount of the investment to minimum 9 million EUR via the
issue of a convertible
bond.   The combination of such investment 
with further cost reductions and the projected  sales  of  the  new 
products  should  allow the Company to return to profitability
towards the end of 2013. 
A  number of parties, including Jan Callewaert,  founder and CEO of
the Company,
have  expressed their  intention to  participate in  the
transaction.  It is the Boards'  expectation that  the transaction 
will be  concluded during  the first
quarter  of  2013. More  details
 about  the  transaction will be described in a report  of the Board
of Directors drafted  in accordance with section 583 of the Code of
Companies. This report will be made available at a later stage. 
In  addition, the Company came to an  agreement with Mondo NV,
controlled by Jan Callewaert, on a mid term loan facility up to a
maximum amount of 5 million EUR,
in  order  to  bridge  potential 
cash  requirements until the completion of the transaction. 
Option  will provide more details  on the financing efforts  as soon
as specific
information is available. 
Option,  the wireless technology company, is  a leading innovator in
the design,
development  and manufacture of 3G HSUPA, HSDPA, UMTS,
EDGE, and WLAN technology
products   for  wireless  connectivity 
solutions.  Option  has established  an impressive   reputation   for
  creating  exciting  products  that  enhance the
performance   and  
functionality   of   wireless   communications. Option  is
headquartered in Leuven, Belgium. The company also has Research &
Development in Belgium  (Leuven), Germany (Augsburg) and an ISO 9001
production engineering and logistics  facility in Ireland  (Cork).
Option maintains  offices in Europe, US, Greater China and Japan. For
more information please visit www.option.com. 
Copyright  Copyright2013  OPTION.  All  rights  reserved.  All
product and company names herein may be (registered) trademarks or
trade names. 
Option financial notification:
Option financiele kennisgeving:
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants
(i) the releases contained herein are protected by copyright and    
other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and     
originality of the information contained therein. 
Source: Option via Thomson Reuters ONE 
Media Contact
Jan Callewaert
Founder and CEO
Jan Smits
Gaston Geenslaan 14
B-3001 Leuven, Belgium
Tel: +32 (0) 16 31 74 11
Fax: +32 (0) 16 31 74 90
E-mail: investor@option.com
Press spacebar to pause and continue. Press esc to stop.