PRESS RELEASE
Paris (France), 15 July 2014
Lucibel strengthens its net equity by € 17 million
and goes public on Alternext Paris
Implementation of a liquidity agreement
Lucibel, a French company specialising in LED (Light-Emitting Diode) lighting solutions, announces
the closing of a private placement of € 7.6 million with qualified investors. This fundraising is
followed by the conversion into shares of the convertible bonds issued in December 2013, for an
amount of € 9.5 million including accrued interest. These two operations allow the company to
increase its net equity by € 17.1 million, and enable it to pursue its strategy of growth and
innovation. Lucibel will be admitted to trading on Alternext Paris as from tomorrow.
The private placement was mainly subscribed by new French and international investors, and with
the support of existing institutional shareholders (Aster and CM-CIC Capital Innovation). It resulted in
the issue of 535,939 shares at a price of € 14.25 per share, in the middle of the proposed price range
of € 13.50 to € 15.00, representing a gross amount of € 7,637,130.75 including the issuance
premium.
Alongside this fundraising, the company will today convert into shares all the 1,200,000 convertible
bonds that were issued in December 2013, in accordance with the issuance contract. This conversion
is based on a share price of € 13.90 and will also include interests accrued over the period. It will
result in the creation of 684 432 new shares, which will increase Lucibel’s net equity by a further €
9,517,500. Following these two transactions, the share capital of Lucibel will comprise 7,546,201
shares.
Further to the private placement, all Lucibel shares will be admitted to continuous trading on
Alternext Paris as from July 16, 2014, under the ticker symbol ALUCI. The main historical
shareholders, senior managers and convertible bond holders have agreed to retain their shares for at
least 180 days from the day on which Lucibel is admitted to trading on Alternext Paris.
Lucibel was advised for its private placement by Capital Investment System, as its Listing Sponsor,
and Canaccord Genuity as its Book Runner and Investment Service Provider.
The funds raised thanks to this private placement will enable Lucibel to sustain its organic growth –
particularly by expanding its sales network both in France and internationally, to pursue its targeted
acquisitions strategy and to strengthen its capacity for innovation.
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Frédéric Granotier, CEO of Lucibel, commented: "This IPO marks a major step in Lucibel’s
development, as well as recognition of the work already accomplished by all Group employees. The
success of our private placement, despite the delicate environment in the financial markets, confirms
investors' confidence in our strategy of growth and innovation. The lighting market, overwhelmed by
the LED technology, is undergoing a revolution. In this context, the increased financial resources and
enhanced visibility provided by our listing will help us to position ourselves as one of the global key
players in this market.”
Radical transformation in the global lighting market
The global lighting market is on the verge of a sweeping transformation triggered by the emergence
of a disruptive technology: LED technology. Offering critical advantages in lighting applications, LED
products and solutions are set to dominate the market in the coming years. From a broader
perspective, the adoption of LED technology is taking the lighting sector into the electronic and
digital world. This crucial shift paves the way to new lighting functionalities and uses, creating many
new potential markets such as intelligent lighting or health and well-being applications.
A pure-player in LED
Lucibel Group specialises in the design and distribution of innovative lighting solutions based in
particular on LED technology. Lucibel is positioned mainly in professional market segments, where its
LED solutions provide maximum value in use: retail shops, hospitality, offices, industrial groups and
public authorities. In 2013, the Group was nominated in the Global Cleantech 100, a list of the
world’s most promising players in clean technologies compiled by the Cleantech Group.
Sustained growth and consolidation strategy
Since its creation, Lucibel has built a track record of hyper-growth, sustained in particular by its
targeted acquisition strategy. The Group reported consolidated revenues of €21.5 million in 2013
(€11.8 million at constant scope), after €6.3 million in 2012 and €3.6 million in 2011. With seven sales
and marketing subsidiaries in Europe, the Middle-East and Asia, and 24% of 2013 revenues generated
outside France, Lucibel has already gained visibility as an international player.
Lucibel’s development objectives are based on organic growth in its existing markets, as well as
market share gains on the back of its segmented solutions-based approach and the expansion of its
direct and indirect sales and marketing network, both in France and internationally. The Group also
bases its ambitions on a consolidation strategy in the highly-fragmented European market.
Implemented since the company’s creation in 2008, this strategy has already proved successful.
A description of Lucibel’s business and strategy, together with its audited consolidated financial
statements, are provided in the Base Document (“Document de Base”) registered by the French
financial markets regulator (AMF) under number I.14-014. Copies of this Base Document are
available free of charge from Lucibel’s registered office at 3, place Louis Renault, 92500 RueilMalmaison, France. The document is also available on the AMF (www.amf-france.org) and Lucibel
(www.lucibel.com) websites. Investors’ attention is drawn to Section 4 of the Base Document
registered by the AMF, entitled “Risk Factors”.
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Implementation of a liquidity contract with Louis Capital Markets
As of July 16, 2014, for a period of one year renewable by tacit consent, Lucibel entered into a
liquidity agreement with Louis Capital Markets, in compliance with the AMAFI Charter of Ethics as
approved by the AMF on March 21, 2011.
The sum of € 200,000 in cash has been allocated to the liquidity account, in order to ensure the
execution of this agreement. Furthermore, Louis Capital Markets has been specifically mandated by
Lucibel to arrange for any appropriate block trading in order to improve the overall liquidity of the
Company’s shares on Alternext Paris.
Eligibility of Lucibel shares for French SME equity savings plan (PEA-PME) and innovation
investment funds (FCPI)
Lucibel confirms that it fulfils the eligibility criteria for the French SME equity savings plan (PEA-PME)
as defined by the French Ministry of Economy and Finance (implementing decree of March 4, 2014,
no.2014-283). The PEA-PME is a vehicle aimed at promoting the funding of SMEs and mid-cap
companies. A complement to the PEA equity savings plan, it has the same tax benefits and functions
in the same way. However, the amount that can be invested in a PEA-PME is capped at €75,000 and
can be invested only in companies that meet the eligibility criteria on the date on which the
securities are purchased.
Lucibel is also qualified as an “Innovative Company” by Bpifrance, which makes it eligible for French
innovation investment funds (FCPI) and for high technology public procurement contracts under
Article 26 of the French law on modernisation of the economy (“Loi de Modernisation de
l’Economie”).
About Lucibel:
Lucibel is a French innovative company which designs in France new-generation lighting products and
solutions, based on LED technology, and markets them in almost 30 countries. For further
information, please visit our website www.lucibel.com
Follow us on social networks:
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FredGRANOTIER
Press Contacts:
Cinquième Pouvoir
Marietou DIAKHO / +331 40 03 96 03
[email protected]
Calyptus
Mathieu CALLEUX / +331 53 65
68 68 [email protected]
Investor Contact:
Liquidity Provider:
Watchowah Consulting
Patrick MASSONI / +336 74 21 46 83
Louis Capital Markets
Maxime Aboujdid / +331 53 45 10 71
[email protected]
[email protected]
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Lucibel
Perrine SIMON
[email protected]