DGAP-Adhoc: OTI Greentech AG: OTI Greentech received first commitments from creditors to convert their loans into shares of OTI Greentech AG

Publication of insider information according to Article 17 of the MAR

OTI Greentech received first commitments from creditors to convert their loans into shares of OTI Greentech AG

Berlin, 31 May 2019 - OTI Greentech AG (ISIN DE000A2TSL22), listed on the Düsseldorf stock exchange, announces today further concrete steps to significantly improve its financial condition, allowing it to continue with its business expansion efforts.

OTI Greentech AG announces that it has received written commitments from some of its creditors to convert their granted loans (including accrued interest) into newly issued shares of OTI Greentech AG through a capital increase by contribution in kind. These commitments account for 48% of the total principal loan amount of around EUR 2.4 million. The conversion is to take place in a ratio of EUR 1 debt to EUR 1 equity.

The commitments are the result of the preceding discussions between OTI Greentech AG and its subsidiary OTI Greentech Innovative Solutions AG (CH) and its creditors regarding the outstanding principal loan amounts of around EUR 1 million and EUR 1.4 million respectively. The aim of the Company is that the remaining 3 creditors and the holders of the EUR 2.9m convertible bonds issued by OTI Greentech AG also agree to convert their loans or bonds into equity. The existing received commitments are subject to the condition that these creditors also commit to the conversion.

To this effect, the Supervisory Board of OTI Greentech AG today resolved to authorise the Management Board to enter into an agreement with all holders of the convertible bonds the purpose of which is to (i) amend the conversion price to EUR 1 (as approved by the general meeting of shareholders on 11 September 2018) and (ii) to extend the special termination right granted to the bondholders from 31 May 2019 until 15 July 2019, which is intended to give the company sufficient time to gather the conversion declarations from all bondholders. The agreement and the conversion declarations will be sent to the bondholders in the next days.

On the assumption that the Company receives the required conversion declarations from all bondholders, the conversion is expected to be completed latest by 15 July 2019. The conversion of the normal loans by way of capital increase against contributions in kind will then be initiated and is expected to be completed by the end of August.

Upon a successful conversion of all the above-mentioned debt, the OTI Greentech Group would be completely debt-free except for certain working capital facilities required for the operations of Uniservice Unisafe srl.

Contact:

OTI Greentech AG
John C. Kisalus, CEO
info@oti.ag
Tel: +49 30 220 136 900
Potsdamer Platz 1, 7th floor
10785 Berlin

edicto GmbH
Axel Mühlhaus, Dr. Sönke Knop
amuehlhaus@edicto.de
Tel.: +49 69 905505-52
Eschersheimer Landstr. 42-44
60322 Frankfurt