14.02.2017
Grammer AG DE0005895403
DGAP-Adhoc: Grammer AG to issue a mandatory convertible bond in a nominal amount of EUR 60 million to strategic partner
DGAP-Ad-hoc: Grammer AG / Key word(s): Corporate Action
Grammer AG to issue a mandatory convertible bond in a nominal amount of EUR
60 million to strategic partner
14-Feb-2017 / 07:57 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by
DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Disclosure of inside information in accordance with Art. 17 MAR
GRAMMER AG (WKN 589540, ISIN DE0005895403)
Grammer AG to issue a mandatory convertible bond in a nominal amount of EUR
60 million to strategic partner
Amberg, February 14, 2017 - Acting with the consent of the Supervisory
Board, the Executive Board of Grammer AG has today passed a resolution to
issue a mandatory convertible bond in a nominal amount of EUR 60 million
subject to the exclusion of the shareholders' preemptive subscription
rights. The mandatory convertible bond will be convertible into shares of
the company equivalent to approximately 9.2 percent of its share capital.
The mandatory convertible bond will be issued to a company affiliated with
the Chinese automotive component supplier Ningbo Jifeng Auto Parts Co. Ltd
("Ningbo Jifeng"). The issue of the mandatory convertible bond forms a key
element underlying the future strategic partnership between the two
companies. This strategic alliance will improve the joint competitive
position of the two internationally active automotive interior specialists
- particularly in the Chinese market - thus securing both companies' future
growth and enhancing their enterprise value. As future strategic
shareholder, Ningbo Jifeng will enlarge Grammer AG's shareholder base and
thus support the continuation of the company's successful corporate
strategy.
The mandatory convertible bond will convert into approximately 1,062,447
shares from the company's contingent capital. The conversion price amounts
to EUR 56.4734 while the bond has a coupon of 1.625 percent. The mandatory
convertible bond must be converted into shares of the company after the
expiry of a one-year period after issuance unless the bond creditor
exercises its conversion right at an earlier date.
Grammer AG will be using the proceeds from the issue to finance its
strategic growth in Germany as well as internationally and for general
company purposes.
GRAMMER AG
The Executive Board
Contact:
GRAMMER AG
Ralf Hoppe
Phone: 0049 9621 66 2200
[email protected]
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14-Feb-2017 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Grammer AG
Georg-Grammer-Str. 2
92224 Amberg
Germany
Phone: +49 (0)9621 66-0
Fax: +49 (0)9621 66-1000
E-mail: [email protected]
Internet: www.grammer.com
ISIN: DE0005895403, DE0005895403
WKN: 589540, 589540
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Munich;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Stuttgart, Tradegate Exchange
End of Announcement DGAP News Service
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544191 14-Feb-2017 CET/CEST
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