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Ecoslops: full conversion of ORNANE

Ecoslops, an innovative technology company that regenerates ship-generated hydrocarbon residues (or “slops”) into valuable new fuels and light bitumen, today announced that all the bearers of ORNANE (Bonds with the option of conversion into existing or new shares) issued in February 2016, exercised their rights to convert their bonds from July to August 2017.

The company has decided to issue new shares in favour of all the bearers.

Consequently, it has created 610 704 new shares with a nominal value of 1 euro, increasing the share capital of the company by 610 704 euros, with a share issue premium of 4 885 632 euros.

The share capital has been raised from 3 337 690 euros to 3 948 394 euros, and is now divided into 3 948 394 ordinary shares.

No more ORNANE are outstanding.

Vincent Favier, Chairman and CEO of Ecoslops, declared: “I would like to thank all the investors who trusted us. The issuance of ORNANE has contributed to the development of the group and their conversion allows today a reinforcement of the equity of Ecoslops, a reduction of the company’s debt and a diversification of the shareholders basis.”
Source: Ecoslops

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