CDC Group plc. Acquires Securities of Feronia Inc. and Files Early Warning Report

TORONTO, June 24, 2015 /CNW/ -  CDC Group plc., today announced that it has acquired, by way of a private placement (the Private Placement), a convertible debenture of Feronia Inc. (Feronia) in the aggregate principal amount of US$6,196,500 (the Debenture), representing 67.5% of all of the convertible debentures issued by Feronia on June 19, 2015 (the Closing Date).

The Debenture bears interest at a rate of 12% per annum, compounded semi-annually and all interest shall accrue and be payable on January 22, 2016 and is convertible into common shares of Feronia (each, a Common Share). The outstanding principal amount of the Debentures together with all accrued and unpaid interest will be convertible at the option of the holder at any time prior to the date which is one year from the Closing Date. The Debentures are convertible at a conversion price of US$0.25 per Common Share.

CDC currently holds 15,149,600 Common Shares of Feronia representing 27% of the issued and outstanding Common Shares. Assuming that CDC fully converts the principal of the Debentures into Common Shares at the conversion price of CAD$0.25, CDC would hold 44,892,800 Common Shares, representing approximately 52.8% of the issued and outstanding Common Shares at the time of conversion (after giving effect to such conversion only; based on a total of 55,231,085 common shares issued and outstanding as of June 19, 2015).

CDC has acquired the Debenture for investment purposes. CDC may, in the future, increase or decrease his ownership of securities of Feronia, directly or indirectly, from time to time depending upon the business and prospects of Feronia and future market conditions.

CDC has filed an early warning report pursuant to Multinational Instrument 62-104 Take-over Bids and Issuer Bids on SEDAR (www.sedar.com) under Feronia's SEDAR profile.

SOURCE CDC Group plc

For further information: For more information or to obtain a copy of the early warning report, please contact: CDC Group plc., 123 Victoria Street, London SW1E 6DE, United Kingdom, Attention: Edgar Buckley or Rhyddid Carter, Communications Team, Facsimile No.: +44 (0)20 7963 4750


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890