PARIS, July 15, 2014 /PRNewswire/ --
Implementation of a liquidity
agreement
Lucibel, a French company specialising
in LED (Light-Emitting Diode) lighting solutions, announces the
closing of a private placement of € 7.6 million with qualified
investors. This fundraising is followed by the conversion into
shares of the convertible bonds issued in December 2013, for an amount of € 9.5 million
including accrued interest. These two operations allow the company
to increase its net equity by € 17.1 million, and enable it to
pursue its strategy of growth and innovation. Lucibel will be
admitted to trading on Alternext Paris as from tomorrow.
The private placement was mainly subscribed by new French and
international investors, and with the support of existing
institutional shareholders (Aster and CM-CIC Capital Innovation).
It resulted in the issue of 535,939 shares at a price of € 14.25
per share, in the middle of the proposed price range of € 13.50 to
€ 15.00, representing a gross amount of € 7,637,130.75 including
the issuance premium.
Alongside this fundraising, the company will today convert into
shares all the 1,200,000 convertible bonds that were issued in
December 2013, in accordance with the
issuance contract. This conversion is based on a share price of €
13.90 and will also include interests accrued over the period. It
will result in the creation of 684 432 new shares, which will
increase Lucibel's net equity by a further € 9,517,500. Following
these two transactions, the share capital of Lucibel will comprise
7,546,201 shares.
Further to the private placement, all Lucibel shares will be
admitted to continuous trading on Alternext Paris as from
July 16, 2014, under the ticker
symbol ALUCI. The main historical shareholders, senior managers and
convertible bond holders have agreed to retain their shares for at
least 180 days from the day on which Lucibel is admitted to trading
on Alternext Paris.
Lucibel was advised for its private placement by Capital
Investment System, as its Listing Sponsor, and Canaccord Genuity as
its Book Runner and Investment Service Provider.
The funds raised thanks to this private placement will enable
Lucibel to sustain its organic growth - particularly by expanding
its sales network both in France
and internationally, to pursue its targeted acquisitions strategy
and to strengthen its capacity for innovation.
Frédéric Granotier, CEO of Lucibel, commented: "This IPO marks a
major step in Lucibel's development, as well as recognition of the
work already accomplished by all Group employees. The success of
our private placement, despite the delicate environment in the
financial markets, confirms investors' confidence in our strategy
of growth and innovation. The lighting market, overwhelmed by the
LED technology, is undergoing a revolution. In this context, the
increased financial resources and enhanced visibility provided by
our listing will help us to position ourselves as one of the global
key players in this market."
Radical transformation in the global
lighting market
The global lighting market is on the verge of a sweeping
transformation triggered by the emergence of a disruptive
technology: LED technology. Offering critical advantages in
lighting applications, LED products and solutions are set to
dominate the market in the coming years. From a broader
perspective, the adoption of LED technology is taking the lighting
sector into the electronic and digital world. This crucial shift
paves the way to new lighting functionalities and uses, creating
many new potential markets such as intelligent lighting or health
and well-being applications.
A pure-player in LED
Lucibel Group specialises in the design and distribution of
innovative lighting solutions based in particular on LED
technology. Lucibel is positioned mainly in professional market
segments, where its LED solutions provide maximum value in use:
retail shops, hospitality, offices, industrial groups and public
authorities. In 2013, the Group was nominated in the Global
Cleantech 100, a list of the world's most promising players in
clean technologies compiled by the Cleantech Group.
Sustained growth and consolidation
strategy
Since its creation, Lucibel has built a track record of
hyper-growth, sustained in particular by its targeted acquisition
strategy. The Group reported consolidated revenues of €21.5 million
in 2013 (€11.8 million at constant scope), after €6.3 million in
2012 and €3.6 million in 2011. With seven sales and marketing
subsidiaries in Europe, the
Middle-East and Asia, and 24% of 2013 revenues generated
outside France, Lucibel has
already gained visibility as an international player.
Lucibel's development objectives are based on organic growth in
its existing markets, as well as market share gains on the back of
its segmented solutions-based approach and the expansion of its
direct and indirect sales and marketing network, both in
France and internationally. The
Group also bases its ambitions on a consolidation strategy in the
highly-fragmented European market. Implemented since the company's
creation in 2008, this strategy has already proved successful.
A description of Lucibel's business and strategy, together with
its audited consolidated financial statements, are provided in the
Base Document ("Document de Base") registered by the French
financial markets regulator (AMF) under number I.14-014. Copies of
this Base Document are available free of charge from Lucibel's
registered office at 3, place Louis
Renault, 92500 Rueil-Malmaison, France. The document is also available on the
AMF (www.amf-france.org) and Lucibel (www.lucibel.com) websites.
Investors' attention is drawn to Section 4 of the Base Document
registered by the AMF, entitled "Risk Factors".
Implementation of a liquidity contract
with Louis Capital Markets
As of July 16, 2014, for a period
of one year renewable by tacit consent, Lucibel entered into a
liquidity agreement with Louis Capital Markets, in compliance with
the AMAFI Charter of Ethics as approved by the AMF on March 21, 2011.
The sum of € 200,000 in cash has been allocated to the liquidity
account, in order to ensure the execution of this agreement.
Furthermore, Louis Capital Markets has been specifically mandated
by Lucibel to arrange for any appropriate block trading in order to
improve the overall liquidity of the Company's shares on Alternext
Paris.
Eligibility of Lucibel shares for
French SME equity savings plan (PEA-PME) and innovation investment
funds (FCPI)
Lucibel confirms that it fulfils the eligibility criteria for
the French SME equity savings plan (PEA-PME) as defined by the
French Ministry of Economy and Finance (implementing decree of
March 4, 2014, no.2014-283). The
PEA-PME is a vehicle aimed at promoting the funding of SMEs and
mid-cap companies. A complement to the PEA equity savings plan, it
has the same tax benefits and functions in the same way. However,
the amount that can be invested in a PEA-PME is capped at €75,000
and can be invested only in companies that meet the eligibility
criteria on the date on which the securities are purchased.
Lucibel is also qualified as an "Innovative Company" by
Bpifrance, which makes it eligible for French innovation investment
funds (FCPI) and for high technology public procurement contracts
under Article 26 of the French law on modernisation of the economy
("Loi de Modernisation de l'Economie").
About Lucibel:
Lucibel is a French innovative company which designs in
France new-generation lighting
products and solutions, based on LED technology, and markets them
in almost 30 countries. For further information, please visit our
website www.lucibel.com
Press Contacts:
Cinquième Pouvoir
Marietou DIAKHO / +331 40 03 96 03
marietou.diakho@cinquiemepouvoir.com
Calyptus
Mathieu CALLEUX / +331 53 65 68 68
mathieu.calleux@calyptus.net
Lucibel
Perrine SIMON
perrine.simon@lucibel.com
Investor Contact:
Watchowah Consulting
Patrick MASSONI / +336 74 21 46 83
patrick.massoni@watchowah.com
Liquidity Provider:
Louis Capital Markets
Maxime Aboujdid / +331 53 45 10 71
maboujdid@louiscapital.com