Company Announcement No. 10/2019
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Erria A/S Announces DKK 3m
Conversion of Convertible Notes
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The board of directors of Erria A/S (the “Company”) is pleased to announce that the lenders under four convertible notes totalling DKK 3,006,500.00 have notified the Company that they wish to convert the loans to new shares.
As announced in company announcements no. 14/2018 and 02/2019, the lenders and amounts lent under the convertible notes are as follow:
- Ellegaard Holdings Pte Ltd, a Singapore company controlled by Peter Kristian Ellegaard, the deputy chairman of the board of directors of the Company, in the amount of DKK 1,004,166.67 under a convertible note, dated September 24, 2018 (exercise price: DKK 5.75 per share), and DKK 500,000.00 under a convertible note, dated March 1, 2019 (exercise price: DKK 4.84 per share), respectively; and
- Harbour Group Holding ApS, a Danish company controlled by Kristian Svarrer, a director of the board of directors of the Company, in the amount of DKK 1,002,333.33 under a convertible note, dated September 24, 2018 (exercise price: DKK 5.75 per share), and DKK 500,000.00 under a convertible note, dated March 1, 2019 (exercise price: DKK 4.84 per share), respectively.
As a result of the conversion, Ellegaard Holdings Pte Ltd will have subscribed to 277,943 shares and Harbour Group Holding ApS 277,625 shares and the total share capital of the Company is thus 9,241,922. The lenders have notified the Company that they have waived any interest under the convertible notes accruing from January 1, 2019.
The board of directors of the Company remains authorized under section 18 of the articles of association of the Company to issue additional convertible notes of up to DKK 20,000,000.00 as set out in company announcement no. 06/2019.
Ellegaard Holdings Pte Ltd now holds in total 2,049,461 shares in the Company and Harbour Group Holding ApS 1,730,374 shares.
Attached are the updated articles of association reflecting the convertible notes conversion.
For further information, please contact Henrik N. Andersen by phone at +45 3336 4400.
Headquartered in Denmark, Erria A/S is an international marine and logistics services company with operations in Denmark, Vietnam, Ghana and Venezuela. With nearly 300 employees and associates across the world, the Erria Group every day serves the needs of container shipping companies, ship owners and several other actors in the shipping and logistics sector. The Erria A/S stock is traded at the NASDAQ First North platform in Copenhagen, Denmark (Bloomberg code: ERRI:DC – ISIN: DK0060101483).
Certified Adviser
Norden CEF ApS
John Norden
Kongevejen 365
2840 Holte
Denmark
+45 2072 0200
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