SMERemediumCap Investment Fund Invests in Doppler Equity – Terms Agreed
In strategic investment in the Doppler company move on the SMERemediumCap Investment Fund (SMERC)with the aim of contributing to its dynamic development in the domestic and international market.
THE Doppler, with important production infrastructures in Kilkis, is active in the field of design, manufacture and marketing of elevators. It has experienced management and staff, as well as know-how, while it stands out for its ability to produce custom-made solutions for its clients. The Doppler is mainly an export company with over 85% of its revenue coming from sales abroad, having implemented great elevator projects such as in London’s Trafalgar Square, the Athens Metro, the Kuwait Airport, the historic center of Ecuador. The company is listed in E.NA. of the A.A.A.
SMERemediumCap Investment Fund invests in Doppler
According to the issued Press Release, SMERC’s strategic cooperation with the Stavropoulos family, main shareholders of the Doppler company, aims the significant growth of operations, the immediate capital reinforcement of the Company, the improvement of liquidity conditions and the implementation of an ambitious investment plan, with the aim of upgrading production capabilities, facilities and its further outward development. Our main goal is to expand customer networks, both in Greece and abroad. In the context of the transaction is also located the refinancing process of the Company’s loan from the National Bank of Greece is in progresswhich is also the main bank of the Company.
“We are particularly happy about the cooperation with the SMERC investment fund and the important investment program that will be implemented. The company’s common development philosophy combined with our own long experience and expertise in the industry create significant prospects for success”reports the main shareholder and CEO of Doppler, Stavros Stavropoulos.
“We would like to express our appreciation and trust to the Stavropoulos family and our commitment to jointly contribute to Doppler’s development path. Our investment in Doppler confirms the Investment Fund’s strategy to support with capital small and medium-sized productive enterprises that have significant growth potential, both in the domestic and international markets”, says the Executive President of SMERemediumCap, Nikos Karamouzis.
In the framework of the agreement they were determined the basic terms under which SMERC will acquire a minority equity interest in Doppler and specifically 35% of the existing share capital, through the purchase of part of the common nominal voting shares currently held in the Company by its main shareholder, Mr. Stavros Stavropoulos. Furthermore, in the context of the transaction, it has been agreed, with the implementation of the necessary corporate procedures and the observance of the legal formalities, to propose to the General Meeting of its shareholders for approval the increase of the Company’s share capital up to the amount of €500,000 through a public offer and participation of existing shareholders. SMERC will also strengthen the Company’s liquidity by acquiring, from the same, the issuance by the company of a convertible bond loan in the amount of €4,000,000 and the parallel issuance of warrants in the amount of €1,350,000. It is not planned to introduce the bonds of the convertible bond loan and the securities of acquisition of shares in the regulated market, nor in E.NA. of the Athens Stock Exchange.
The acquisition of shares by the main shareholder, the increase in share capital and the issuance of warrants will be carried out at the same price, i.e. €0.35 per share. Upon completion of the transaction, the Stavropoulou Family will retain the majority of the share capital and management of the Company.
The completion of the transaction, which is timed within the 2nd quarter of 2024as well as all the above individual shareholder agreements, as is self-evident, are subject to the taking of all required corporate decisions and the approval of the above described corporate acts by the competent corporate bodies of the Company, as well as the completion of all necessary formalities provided for by law.
