Share Issue/Capital Change • Jun 30, 2011
Share Issue/Capital Change
Open in ViewerOpens in native device viewer
News Details
Corporate | 30 June 2011 09:27
Gigaset AG: Gigaset AG converts bond on June 30, 2011
Gigaset AG / Key word(s): Bond
30.06.2011 / 09:27
Munich, June 30, 2011 – Today Gigaset AG realized the announced exchange of the convertible bond. As announced by the Executive Board and the Supervisory Board in an ad hoc release on February 10, 2011, the convertible bond issued in November 2010 will be exchanged today, the first possible date. For every one debenture the holder receives 0.8696 no-par bearer shares with a notional value of EUR 1.00 per share of total share capital of the company. The total number of issued shares of the Gigaset AG thereby increases to 50.01491 million units.
According to the bond conditions, the conversion price lies between 100% and 115% of the reference price. It is measured at the level of the arithmetic average of the closing prices of Gigaset shares in XETRA trading on the Frankfurt Stock Exchange during the 20 trading days preceding the conversion date ('20 Daily Average Price'). The reference price was to be the arithmetic mean of the closing prices of he Gigaset shares in XETRA trading on the Frankfurt Stock Exchange during the five trading days preceding the date on which the issue price of the bonds, amounting to EUR 2.00, was determined. The conversion ratio is calculated by dividing the principal amount, which also amounts to EUR 2.00 by the conversion price. This was determined according to the loan terms since the '20 average daily rate' lay above EUR 2,30 before the conversion to EUR 2.30, so that the conversion ratio is 0.8696 (nominal value Euro 2/reference rate EUR 2.30). The holders of the convertible bond obtained 0.8696-par bearer shares for each debenture. This corresponds to 115% of the reference price. Since no share fractions can be delivered, this is compensated for in cash, provided the amount exceeds EUR 5. The relevant no-par bearer shares were already admitted to trading by the German stock exchange with an admission notice dated 24th June 2011. They also bear the ISIN DE005156004 and will be posted at the respective depository banks for booking in the accounts of the holder of the debentures. The interest of 9% pa from 01.01.2011 is also due with the conversion.
Gigaset AG , Munich, is a worldwide operating company in the telecommunication and accessories sector. The company is a leading global producer of cordless phones and Europe's market leader in DECT phones. Internationally, the premium provider with 1,600 employees in more than 70 countries, is ranked in third place in its sector.
The Gigaset AG shares are traded in the TecDAX (Prime Standard) of the Frankfurt Stock Exchange. Symbol: AQU, ISIN: DE0005156004.
Further information at: http://www. gigaset.ag
Contact:
Gigaset AG
Kerstin Diebenbusch
Investor Relations
Tel.: +49 (0)89 444456-937
E-Mail: [email protected]
End of Corporate News
30.06.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
| Language: | English |
| Company: | Gigaset AG |
| Hofmannstraße 61 | |
| 81379 München | |
| Deutschland | |
| Phone: | +49 89/255500-0 |
| Fax: | +49 89/255500-200 |
| E-mail: | [email protected] |
| Internet: | www.gigaset.com |
| ISIN: | DE0005156004 |
| WKN: | 515600 |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart |
| End of News | DGAP News-Service |
| - - - |
| 130285 30.06.2011 |
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.