Cybergun Sa: CYBERGUN SHAREHOLDERS MASSIVELY SUPPORT MANAGEMENT PROJECTS

• Favorable vote on the project to restructure the CYBO 2020 bond debt;
• Authorization to set up a € 92 million equity financing line;
• Lowering the nominal value of the share;
• Reunification of the functions of Chairman and Chief Executive Officer.

October 14, 2019.

The shareholders of CYBERGUN, gathered this Friday at the Combined General Meeting, voted overwhelmingly in favor of the initiatives supported by the General Management.

RESTRUCTURING PROJECT OF THE BOND DEBT

As announced, in order to find a fair financial balance after 5 years of deep restructuring, CYBERGUN must finalize the rebalancing of its balance sheet still penalized today by the non-convertible bond debt (9 MEUR in principal due October 2020 with annual coupons of 5% in 2019 and 10% in 2020), issued in October 2010 by the former CYBERGUN team.

The scheme presented at the General Meeting of bondholders and ratified by the shareholders' AG offers 2 options to bondholders:

• Option 1: a progressive transformation of their debt into shares ( ' equitization liabilities ") as part of a process organized within a trust. In this option, the holders can expect a repayment spread over time of all or part of their debt thanks to the proceeds of sale on the market of the shares resulting from the process of conversion over the water from 1^st December 2020 and until December 31, 2022. Holders who choose this option will also be awarded a free Share subscription warrants (BSA) "K1".
• Option 2: a immediate refund in cash of 30% of their claim (principal + interest accrued and due) before 31 December 2019. Holders who opt for this option will receive a free Share subscription warrants (BSA) "K2". This option will apply by default to bondholders who have not expressed any choice.

The exact terms of each of these two options – each bondholder must choose one or the other of these options or a combination of the two – will be finalized at a final General Meeting of the bondholders convened before the end of November. 2019.

By their votes, the shareholders gathered in AGM and AGE have given almost unanimous present and representatives the green light to the Direction of CYBERGUN to initiate the necessary steps to implement this solution for effective implementation at faster and at a minimum starting in January 2020. CYBERGUN will inform the market of significant progress.

92 MILLION EQUITY FUNDING LINE

Shareholders also amended and voted on the resolutions necessary for the definitive establishment of a line of equity financing that will provide a long-term solution to the issue of its financing, while raising the ceilings for authorizations to issue capital to shareholders. levels allowing simultaneous realization the equitization debt.

In accordance with the terms of the agreement and as announced in the press release of October 8, 2019, the European High Growth Opportunities Securitization Fund, managed by the Alpha Blue Ocean Group (ABO), has committed to subscribe a maximum of 92 MEUR in the form of bonds convertible or exchangeable into new or existing shares (OCEANE) over a period of 96 months. A first subscription of EUR 3 million will take place in several tranches, the total nominal amount of which will be EUR 2 million, which has already been subscribed, and EUR 1 million, which will be subscribed in the coming days.

REDUCING THE NOMINAL VALUE OF THE ACTION

The Board of Directors, on the basis of the delegation conferred by the 14^th resolution passed at this Shareholders' Meeting, decided to delegate to the Chairman and Chief Executive Officer the possibility of carrying out a capital reduction charged to the "Retained earnings" account motivated by losses by way of reduction of the nominal value. The latter has therefore taken the decision to lower the par value of the share to 0.01 EUR.

HUGO BRUGIÈRE NAMED PRESIDENT DIRECTOR GENERAL

The Board of Directors has also, as proposed, implemented the reunification of the functions of Chairman and Chief Executive Officer. Hugo BRUGIÈRE, already Vice President and General Manager, has been named CEO of CYBERGUN.

Claude SOLARZ, Director and Chairman of the Board since 2014, wished to take a step back for personal reasons and thus left his duties as director and Chairman of the Board.

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About CYBERGUN: www.cybergun.com

CYBERGUN is a global player in leisure shooting, qualified as "Innovative Company" by Bpifrance. During the year ended March 31, 2018, the company achieved a turnover of more than EUR 30 million. CYBERGUN securities (FR0013204351 – ALCYB) are eligible for FCPI, PEA and PEA-PME.

contacts :

ACTUS finance & communication

Investor Relations: Jerôme FABREGUETTES-LEIB at +33 1 53 67 36 78

Press Relations: Nicolas BOUCHEZ at +33 1 53 67 36 74

CAPITAL ASSET

Sponsor Listing: Rodolphe OSSOLA on +33 1 56 69 61 86

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