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CPI Europe AG — Capital/Financing Update 2011
Sep 13, 2011
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Capital/Financing Update
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Corporate | 13 September 2011 14:55
IMMOFINANZ AG: Convertible bonds due 2011 (ISIN XS0416178530) – Information on the end of the conversion period and adjustment of the conversion price due to envisaged dividend distribution
IMMOFINANZ AG / Key word(s): Bond/Dividend
13.09.2011 / 14:55
IMMOFINANZ AG: Convertible bonds due 2011 (ISIN XS0416178530) – Information on the end of the conversion period and adjustment of the conversion price due to envisaged dividend distribution
1. Overview
The 7.00% convertible bond 2009 – 2011 (ISIN XS0416178530) (' CB 2011 ') is due for redemption on 22 December 2011. However, the conversion period already ends on 06 October 2011 at 4.00 pm (CET).
The company hereby informs on the possible conversion dates, the excluded period for conversions relevant for the 18th ordinary shareholders' meeting of the company on 28 September 2011 as well as on the adjustment of the conversion price due to the envisaged dividend distribution.
Conversions of the CB 2011 are possible before and after the excluded period relevant for the 18th ordinary shareholders' meeting of the company:
– For conversions with a conversion date until 16 September 2011 (prior to the excluded period) holders of the CB 2011 will receive shares of IMMOFINANZ AG (ISIN AT0000809058) bearing dividend entitlements with respect to the envisaged dividend distribution of EUR 0.10 per share.
– If the conversion of the CB 2011 is effected with a conversion date between 03 October 2011 and 06 October 2011 (both dates included) the adjusted conversion price of EUR 1.93 will applicable in case the resolution on the envisaged divided will be passed; however, the IMMOFINANZ-shares (ISIN AT0000809058) to be delivered on conversion will not bear divided entitlements in relation to the envisaged dividend distribution.
| Conversion Dates | Conversion Price (EUR) |
Settlement Shares per CB 2011 (Principal Amount EUR 100,000) | Dividend per share (EUR) |
Dividend per CB 2011 (Principal Amount EUR 100,000) (EUR) |
| Conversion until 16 Sep 2011 | 2.00 | 50,000 | 0.10 | 5,000.00 |
| Conversion between 03 Oct and 06 Oct 2011, 4.00 pm (CET) | 1.93 | 51,813 | n.a. | n.a. |
| From 06 Oct 2011, 4.00 pm (CET) no conversion possible | n.a. | n.a. | n.a. | n.a. |
The closing price of the IMMOFINANZ-share (ISIN AT0000809058) on the Vienna Stock Exchange on 12 September 2011 was EUR 2.273. In relation to this share price the conversion option of the CB 2011 is in-the-money.
– Excluded period relevant for the shareholders' meeting and end of the conversion period
On the occasion of the 18th ordinary shareholders' meeting of the company on 28 September 2011 the exercise of the conversion right for the CB 2011 is not admissible during the period from 19 September 2011 until 02 October 2011 (both dates included) (excluded period).
The conversion period for the CB 2011 ends on 06 October 2011 at 4.00 pm (CET).
– Issuance of IMMOFINANZ-shares with dividend entitlements for the business year 2010/11 in case of conversion of the CB 2011 before the excluded period
It is envisaged that in the 18th ordinary shareholders' meeting of the company on 28 September 2011 a dividend in the amount of EUR 0.10 per share for the business year 2010/11 shall be resolved upon.
If the conversion of the CB 2011 is effected with a conversion date until 16 September 2011 (date inclusive) (prior to the excluded period) the company will issue shares (ISIN AT0000809058) bearing divided entitlements in relation to the planned dividend distribution.
The dividend ex date for the dividend distribution was set to be 30 September 2011. From the dividend ex date the shares of the company (ISIN AT0000809058) will be traded ex dividend 2010/11 on the Vienna Stock Exchange. The dividend shall be paid on 05 October 2011.
– Adjusted conversion price of the CB 2011 after the excluded period
For conversions with a conversion date from 03 October 2011 onwards (after the excluded period) IMMOFINANZ-shares (ISIN AT0000809058) will be issued without a dividend entitlement for the planned dividend for the business year 2010/11; however the adjusted conversion price in relation to the dividend distribution will be applicable to the CB 2011 (assuming the passing of a corresponding resolution).
The adjusted conversion price after the dividend distribution for the CB 2011 amounts to EUR 1.93.
The number of shares to be delivered in case of conversion is calculated by dividing the principal amount of the CB 2011 delivered for conversion by the (adjusted) conversion price, rounded down to the next full share. There will be no delivery of fractional shares and there will be no cash compensation for fractions.
– Summary
The conversion of CB 2011 is possible only until 06 October 2011 at 4.00 pm (CET). In addition, the excluded period relevant for the 18th ordinary shareholders' meeting of the company has to be observed:
– In order to receive IMMOFINANZ-shares (ISIN AT0000809058) bearing dividend entitlements for the planned dividend distribution of EUR 0.10 per share the conversion needs to be effected with a conversion date on or before 16 September 2011 at the latest.
– For conversions of CB 2011 from 03 October 2011 onwards the adjusted conversion price of EUR 1.93 will be applicable in case of passing of a resolution on the planned dividend distribution; however, shares (ISIN AT0000809058) without dividend entitlements for the planned dividend will be issued.
With the expiry of 06 October 2011, 4.00 pm (CET) the CB 2011 cannot be converted into shares of the company (ISIN AT0000809058) any more. If the conversion right is not validly exercised, the CB 2011 are redeemed at its principal amount plus accrued interest on 22 December 2011 (maturity date).
ENQUIRIES
INVESTOR RELATIONS
MMag. Clemens Eisinger
Head of Corporate Finance & Investor Relations
IMMOFINANZ AG
M +43 (0)699 1685 7315
Simone Korbelius
Investor Relations
IMMOFINANZ AG
T +43 (0)5 7111 2291
**PRESS CONTACT
**Sandra Bauer
Head of Corporate Communications | Pressesprecherin
T +43 (0)5 7111 2292
M +43 (0)699 1685 7292
End of Corporate News
13.09.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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| Language: | English |
| Company: | IMMOFINANZ AG |
| Wienerbergstraße 11 | |
| 1100 Wien | |
| Austria | |
| Phone: | +43 (0) 5 7111 – 2291 |
| Fax: | +43 (0) 5 7111 – 8291 |
| E-mail: | [email protected] |
| Internet: | http://www.immofinanz.com |
| ISIN: | AT0000809058 |
| WKN: | 911064 |
| Listed: | Freiverkehr in Berlin, München, Stuttgart; Open Market in Frankfurt; Wien (Amtlicher Handel / Official Market) |
| End of News | DGAP News-Service |
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| 139117 13.09.2011 |