Thun, 30 January 2017
Meyer Burger – New conversion price for the CHF 100 million convertible bond fixed at CHF 0.98
Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) announced today that the new conversion price for the CHF 100 million convertible bond (due in 2020) has been fixed at CHF 0.98. The new conversion price has been adjusted in accordance with the new conditions of the convertible bond as approved by the bondholders’ meeting on 25 November 2016 and has been reset at 25.0% above the average of the daily volume-weighted average share prices (VWAPs) of the Meyer Burger registered share in the period between 3 January and 30 January 2017.
Based on the new conversion price, a total of up to 102,040,816 new registered shares of Meyer Burger Technology Ltd can be issued in case of full conversion of the CHF 100 million convertible bond. The Board of Directors will propose to the Ordinary General Meeting of Shareholders, to be held on 27 April 2017, to again reduce the conditional capital for conversion and/or options rights by the amount no longer required.
With its verdict dated 20 January 2017, the High Court of the Canton of Berne has also approved the resolutions of the bondholders‘ meeting regarding the amendments of the conditions for the convertible bond. The verdict will become final after an unused 30-day appeal period.
The bondholders will be informed when the amendments of the conditions for the convertible bond come into effect (including the effective date of the amendments) through publication on the website of SIX Swiss Exchange AG and in accordance with Article 10 of the conditions of the convertible bond (https://www.six-exchange-regulation.com/en/home/publications/official-notices.html).
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