Brussels, Belgium, January 21, 2020

Merodis, an independent corporate finance advisory firm, is pleased to announce that it successfully assisted in the private placement of a EUR 5m bond issued by AudioValley (www.audiovalley.com), a Belgian stock market listed company. More details are provided below in a summary of the company’s press release, dated 19 December 2019.

AudioValley, an international specialist in BtoB digital audio solutions, (ISIN Code: BE0974334667/Ticker: ALAVY) announced that it paid the first instalment due to Vivendi in the amount of €13m, pursuant to the agreement to prepay the outstanding debt under the terms of the seller credit obtained when acquiring the majority stake in the Radionomy/Targetspot division. As such, the payment of the balance scheduled for the first quarter of 2020 will mean that AudioValley will be able to benefit from the 35% discount. The debt repayment is financed by some of the resources generated by two recent transactions: (1) July 2019 EUR 8m convertible bond; and (2) December 2019 sale of the group’s 80.97% stake in Storever. Furthermore, AudioValley also announced that it successfully completed a EUR 5m (non-dilutive) bond issue. Income from this issue will strengthen the Group’s resources that will be dedicated to the future commercial development of its businesses and maintaining its position as a technology leader on the digital audio market.

The bond was fully subscribed by a Belgian institutional investor, allowing to further diversify the company’s funding base. More information on the transaction is available on AudioValley’s web site via this secure link: AudioValley press release.

Contact:

Steven Meuldermans
sme@merodis.com, +32 494 57 36 98
Arnaud Goossens
ago@merodis.com, +32 473 53 04 66
Micha Gobets
mgo@merodis.com, +32 496 39 25 96