DEINOVE : Set up of Standby Equity Facility (PACEO®) With Société Générale

  DEINOVE : Set up of Standby Equity Facility (PACEO®) With Société Générale

Business Wire

PARIS -- October 31, 2013

Regulatory News:

DEINOVE (Paris:ALDEI) (Alternext Paris: ALDEI), a technological company that
designs, develops and markets a new generation of industrial processes based
on Deinococci bacteria, is setting up a Standby Equity Facility (PACEO^®) with
Société Générale in accordance with the authorisation granted by the general
meeting held on 3^rd May 2012.

Emmanuel Petiot, CEO of DEINOVE, stated: “This standby equity facility allows
reinforcing our flexibility and diversifying our sources of financing, while
preserving our financial structure. The funds raised will contribute to
finance our various ambitious projects in the green chemistry field
(second-generation biofuels and chemical intermediates).”

Société Générale undertook to subscribe successive capital increases over the
next 36-months, up to 450,000 shares in aggregate (i.e. 9.0% of the current
share capital).

For each tranche, the issuance price will depend on the volume weighted
average price of the shares for the three trading days immediately preceding
the relevant issue date discounted by no more than 6%. This discount will
enable Société Générale, who has no intention of remaining a shareholder in
the Company, to underwrite the subscription regardless of market volatility.

DEINOVE has no drawdown obligation, and only intends to use this facility if
market conditions mean that it is in the best interests of both the Company
and its shareholders.

The potential impact of the Standby Equity Facility (PACEO^®) on a 1% stake in
DEINOVE prior of its implementation is summarized hereunder:

                   Before PACEO^®  After completion of PACEO^® in full^1
                   implementation
                                   Non-diluted basis^2    Fully diluted
                                                            basis^3
Participation      1.00%           0.92%                  0.79%
(in % of capital)

^1 Leading to the issuance of 450,000 new shares.
^2 Based on 5,002,935 shares representing DEINOVE share capital.
^3 After having issued 876 420 new shares, assuming that all the dilutive
instruments issued or attributed as of the date of this press release have
been fully exercised.

About DEINOVE

DEINOVE (Alternext Paris: ALDEI) is ushering in a new green chemistry order by
designing and developing new standards of production based on bacteria of
untapped potential: the Deinococci. Taking advantage of their unique genetic
properties and unusual robustness, DEINOVE optimizes natural fermentation and
metabolic capabilities of these bacterial "micro-factories" to produce high
value added products from non-food biomass. The Company’s primary markets are
2nd generation biofuels (DEINOL) and chemical intermediates (DEINOCHEM).
Listed on Alternext since April 2010, DEINOVE was founded by Philippe Pouletty
MD, General Partner of TRUFFLE CAPITAL, and Professor Miroslav Radman, of the
Faculty of Medicine of the University René Descartes. The company employs over
40 people in its new offices and laboratories located at the Biopôle
Euromédecine, in Montpellier.

More information at www.deinove.com

About PACEO®

The PACEO® is an equity financing solution that was designed by Société
Générale. The PACEO® helps issuers to diversify their funding sources through
an additional financing option, while preserving the financial balances. The
PACEO® may be drawn at the issuer’s sole discretion via the issue of new
shares at a low discount to the then market price; this solution provides the
same benefits as a capital increase while providing the same guarantee as a
confirmed credit line. With this transaction, Société Générale, the leading
institution for equity lines in France, has set up its 33rd PACEO®.

Contact:

DEINOVE
Emmanuel Petiot, Tel: + 33 1 42 03 27 37
CEO
emmanuel.petiot@deinove.com
or
Elisabetta Castelli, Mob. : +33 6 13 66 39 39
Director of communication and Investor Relations
elisabetta.castelli@deinove.com
or
ALIZE RP
Caroline Carmagnol, Mob. : +33 6 64 18 99 59
Press Relations
caroline@alizerp.com
or
SOCIÉTÉ GÉNÉRALE
Frédéric Sutterlin, Tél. : +33 1 42 13 59 14
frederic.sutterlin@sgcib.com
 
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