Reference is made to stock exchange notice of 10.1.2011 regarding the subsequent offering of shares in TTS Group ASA, stock exchange notice of 15.8.2012 regarding dividend payment and repayment of capital to shareholders and notice to the stock exchange of 18.10.2012 regarding the creditor deadline under the Norwegian Public Limited Liability Act section 12-6 that expired 17 October 2012 and that the company has not received any objections to the capital reduction.
Based upon relevant clauses in the bond agreement the conversion price is changed from 8.44 per share to 5.71 per share, with effect as from 26 October which is the date the share will be traded ex right to the disbursement amount.
The adjustment reflects the repayment of capital resolved item 5 in the extraordinary general meeting held 15 August 2012.
The remaining nominal convertible bond debt is NOK 95 345 000, corresponding to 16 697 898 conversion rights based upon updated conversion price.
Bergen, 18 October 2012
Contact persons:
Johannes D. Neteland
President & CEO
Tel +47 918 46 906
Arild Apelthun
CFO
Tel +47 918 19 265