AUDIOVALLEY (EPA:ALAVY) - AudioValley : Acquisition of Radionomy/TargetSpot: renegotiation with Vivendi of the terms of vendor credit early repayment.
Transparency directive : regulatory news
01/07/2019 17:48
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Press release
www.audiovalley.com
1 July 2019 - 5.30pm CEST
Audiovalley: Caroline Dupuis - press@audiovalley.com -
Actifin: Victoire Demeestère - vdemeestere@actifin.fr -
Acquisition of Radionomy/TargetSpot: renegotiation with Vivendi of the terms of
vendor credit early repayment
AudioValley, an international specialist in BtoB digital audio solutions, (ISIN
Code: BE0974334667/Ticker: ALAVY) announces it has signed an agreement with
Vivendi on the renegotiation of the terms of the vendor credit early repayment
clause established during the acquisition of the majority stake in the
Radionomy/TargetSpot activity.
In August 2017, AudioValley acquired the 64.4% stake held by Vivendi in
Radionomy Group BV. AudioValley now owns 98.53% of the company's capital.
At the end of June 2019, the vendor credit balance related to the financing of
this operation stood at EUR24.7 million, payable in cash in several annual
instalments between 2019 and 2025.
Under the new agreement, this debt may now be paid off no later than 30 October
2019, which would allow AudioValley to benefit from a discount of up to 39%, or
a potential reduction of EUR9.7 million. Note that the initial repayment
agreement provided for a discount of up to 30% (over EUR7 million) if
implemented no later than 30 June 2019.
Future updates (after the stock market closes):
Turnover for H1 2019
16 July 2019
Half-yearly results for H1 2019
16 October 2019
CONTACTS
AUDIOVALLEY
Caroline Dupuis
+32 (0) 2 466 31 60
press@audiovalley.com
ACTIFIN, financial communication
Victoire DEMEESTERE
+33 (0)1 56 88 11 11
vdemeestere@actifin.fr
ACTIFIN, financial press relations
Jennifer Jullia
+33 (0)1 56 88 11 19
jjullia@actifin.fr