At the end of February, capital increases were achieved by (a) the conversion of the current accounts of AMC Asset Segregated, chairman Gilles-Emmanuel Trutat, and the directors, (b) the conversion of previous debts held by several Swiss private banks, a Luxembourg fund, and large individual investors, (c) the contribution of new funds by five qualified private investors.
The amount of the 3 capital increases totalled €5m (issue premium included) for 12,267,219 new shares issued at 0.40 euro per share. The funds raised have been devoted to the renovation of the industrial building located in Brétigny-sur Orge (France), the acquisition of new matrices, particularly for the Compiègne and Demidoff collections and a laser welding machine.
In May, a non-dilutive fundraising aimed to finance three priority areas: 1) the creation of strategic reserves of precious metals (silver and gold bullion) so as to anticipate demand and guarantee optimal delivery times; 2) the optimization of industrial tools, to improve production efficiency and support the anticipated growth; 3) The inventory and restoration of the House’s historical archives, true witnesses to its artistic and cultural heritage.
Odiot Holding has issued senior unsecured, non-convertible bonds offering 8% for a €50k investment over five years and 12% for a €100k investment over two years, with a target raise of €1m.
At the margin for now, the precious metals needed for manufacturing could be hoarded for a short while. Directional positioning on metals could help the bottom line. Obviously, this would happen with limited risk as metals have a natural manufacturing exit. It is worth pointing out that, over long periods, gold and silver tend to deliver similar performances.
