EARLY REDEMPTION OF THE 0.15% CONVERTIBLE BONDS 2018 – 2025


Ad Hoc Announcement Pursuant to Article 53 of the SIX Exchange Regulation Listing Rules

EARLY REDEMPTION OF THE 0.15% CONVERTIBLE BONDS 2018 – 2025

  • Sika notifies the bondholders of its convertible bond due in 2025 that it has exercised the early redemption option
  • Notices to convert the Bonds may be deposited with the paying and conversion agent until September 15, 2023, 4:00 p.m. CEST
  • Deposit banks may set an earlier deadline to bondholders to instruct the conversion of their Bonds and bondholders should therefore reach out to their bank or broker
  • Bonds which will not be converted will be redeemed at par plus accrued interest

Sika has announced the exercise of its option to redeem the 0.15% Convertible Bonds 2018 – 2025 (“Bonds”) on September 25, 2023 at par plus interest accrued to such date.

The early redemption occurs in accordance with condition 5.b) ii) of the Terms of the Bonds whereby the Bonds may be redeemed if the VWAP of a registered share of Sika AG on SIX Swiss Exchange AG on each of at least 20 out of 30 consecutive trading days has been at least 130% of the conversion price in effect on each of such trading day.

Notices to convert the Bonds may be deposited with the paying and conversion agent until September 15, 2023, 4:00 p.m. CEST, whereby deposit banks may set an earlier deadline to bondholders to instruct the conversion. Bondholders should therefore reach out to their bank or broker.

As of the date hereof 60,295 Bonds remain outstanding out of a total of 82,500 initially issued. Each Bond of nominal value of CHF 20,000 may be converted into 106.70650 registered shares of Sika AG with nominal value of CHF 0.01. Fractions of shares will be paid out in cash in accordance with the Terms of the Bonds. The registered shares delivered upon conversion of the Bonds will be fungible with the outstanding registered shares.

Bonds which have not been converted will be redeemed at par. The last trading day on SIX Swiss Exchange of the not converted Bonds will be September 21, 2023.

Assuming that all bondholders exercise their conversion right, a maximum of 6,433,868 new Sika shares may be issued, which corresponds to 4.19% of the Company's issued and in the commercial register registered share capital. The newly created Sika shares will be issued out of the existing conditional capital.

CONTACT
Dominik Slappnig
Corporate Communications &
Investor Relations
+41 58 436 68 21
slappnig.dominik@ch.sika.com

SIKA CORPORATE PROFILE
Sika is a specialty chemicals company with a globally leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry. Sika has subsidiaries in 103 countries, manufactures in over 400 factories, and develops innovative technologies for customers around the world that facilitate the sustainable transformation of the construction and transportation industries. With more than 33,000 employees, the company generated annual sales of CHF 10.5 billion in 2022.

The media release can be downloaded from the following link:

Media Release

 

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Media Release.pdf