DGAP-News: Gigaset AG / Key word(s): Bond
Gigaset AG: Gigaset AG converts bond on June 30, 2011
30.06.2011 / 09:27
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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: info@gigaset.com
End of Corporate News
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30.06.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Gigaset AG
HofmannstraÃe 61
81379 München
Deutschland
Phone: +49 89/255500-0
Fax: +49 89/255500-200
E-mail: klaus.franke@gigaset.com
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
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130285 30.06.2011
DGAP-News: Gigaset AG: Gigaset AG converts bond on June 30, 2011
| Source: EQS Group AG