Launch of a capital increase of approximately 1.9 million euros for Egide SA, with preemptive subscription rights for shareholders and conclusion of a 750,000 euros bond loan.

√ Capital increase of €1,921,561.20 with Preemptive Subscription Rights for shareholders

√ Subscription price per New Share: €0.65

√ Ratio of new shares for old: 2 new shares for 7 existing shares

√ Subscription period from 21 August 2023 to 31 August 2023 inclusive

√ Ex-rights date: 17 August 2023

√ Commitment to subscribe on a non-preemptive basis for a maximum amount of €1,921,561.20, i.e. 100% of the transaction, on the part of Compagnie Nationale de Navigation (CNN), an entity affiliated to Mr Patrick Molis

√ Conclusion of a €750,000 bond loan with Compagnie Nationale de Navigation

√ Turnaround plan and abandonment of the sale of the US subsidiaries

√ Strengthening corporate governance

【Capital increase with Preemptive Subscription Rights for shareholders】

Egide, the global specialist in hermetic packaging, announced the launch of a €1,921,561.20 Capital Increase with preemptive subscription rights (the “Preemptive Subscription Rights”) for shareholders to be subscribed in cash (the “Capital Increase”) through the issuing of 2,956,248 ordinary shares (the “New Shares”) at a unit price of €0.65, representing a discount of 26.4% compared to the closing price on 11 August 2023 (€0.883) and a discount of 14.3% compared to the volume-weighted mean price of the 20 trading sessions preceding the determination of the issue price by the Board of Directors (€0.759).

Egide’s shareholders will be able to subscribe to the Capital Increase at the rate of two (2) New Shares for seven (7) existing shares.

Compagnie Nationale de Navigation, an entity affiliated to Mr Patrick Molis, has given Egide a commitment to subscribe on a non-preemptive basis (i.e. without preemptive subscription rights) to the Capital Increase in a maximum amount of €1,921,561.20, representing 100% of the planned Capital Increase and thus guaranteeing that the transaction will be completed.

The Company does not know the other shareholders’ intentions.

【€750,000 bond loan】

Alongside the Capital Increase, on 9 August 2023 Egide entered into a bond issue and subscription agreement in the amount of €750,000 (the “Bond Issue”) with Compagnie Nationale de Navigation. This loan, maturing on 14 December 2023, will be repayable in cash or, subject to approval by Egide’s general shareholders’ meeting, in shares.

【Use of the funds】

The €2,671,561.20 raised by the Capital Increase and the Bond Loan will enable the Company:

● to begin work on turning around its US subsidiaries;

● to recruit a sales team to boost sales;

● to finance the increase in its working capital requirement due to higher revenue.

【Turnaround plan and abandonment of the sale of the US subsidiaries】

Egide has decided to terminate the sale of its US subsidiaries and is launching a reorganisation and turnaround plan for its subsidiaries.

In this context, Egide is also announcing Jim Collins’ resignation from his position as director of Egide SA early August and his departure as an employee at the end of September 2023. A new management team will be put in place in the United States tasked with turning around the two subsidiaries.