InnoConcepts N.V.
PRESS RELEASE Eindhoven, 21 June 2010
InnoConcepts partner Proventec suspends share trading
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InnoConcepts N.V. (“InnoConcepts”) has been informed that Proventec plc. (“Proventec”), listed on
the AIM in London and Alternext in Paris, has announced a suspension of trading of its shares this
morning. The Proventec board is now exploring possible options for Proventec, which include placing
Proventec into administration. Any administration may lead to a debt restructuring or a bankruptcy of
Proventec.
InnoConcepts holds 36.2% of the shares in Proventec which are valued at EUR 3.8 million.
Proventec is also indebted to InnoConcepts to an amount of approx. EUR 5.0 million. This value may
be lost if Proventec enters administration.
In addition, InnoConcepts has guaranteed the payment by Proventec of GBP 15 million 8.5%
convertible loan notes due 2012. Proventec has announced that, without any additional funding, it will
be unable to make the next interest payment on the loan notes, in the sum of approximately
GBP 600,000, which is due at the end of June. If the guarantee is called, then InnoConcepts will not
have access to the necessary liquidity in order to fulfil its obligations under this guarantee, however,
based on initial contacts we believe that an agreement for a restructuring of this debt may be
achievable. InnoConcepts, therefore, invites loan note holders to make contact to discuss potential
arrangements.
A press release will be issued upon further developments.
FOR MORE INFORMATION, PLEASE CONTACT:
InnoConcepts N.V.
Investor Relations department
Tel.: (0)40 2647580
Fax: (0)40 2647589