DGAP-Adhoc: OTI Greentech AG reaches agreement on full conversion of convertible bonds

Publication of insider information according to Article 17 of the MAR

OTI Greentech AG reaches agreement on full conversion of convertible bonds

Berlin, 19. July 2019 - OTI Greentech AG (ISIN DE000A2TSL22) has received approval from all convertible bond creditors for a restructuring plan under which all convertible bonds will be converted into OTI Greentech AG shares in the current third quarter. In total, liabilities amounting to EUR 2.9 million will be converted into equity.

The conversion price is EUR 1.00, which converts EUR 1.00 of debt capital into 1 share. The conversion price is thus above the current OTI Greentech share price of EUR 0.50 (closing price 18.07.2019). The technical implementation is expected to be completed in the 3rd quarter of 2019. The conversion is one of the conditions for the planned full acquisition of KMI Cleaning Solutions Inc. (see Ad-hoc dated 16 May 2019). In addition, OTI Greentech will achieve significant interest savings in the future. The share capital of OTI Greentech AG will amount to EUR 4,698,602 after the completion of this transaction.

The conversion also fulfils the condition for the loan providers' commitments to convert loans into shares of OTI Greentech AG (see Ad-hoc dated 31 May 2019).