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Provider: Reuters Investment Profile

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AB Science SA Issues Two Convertible Bonds for a Total Amount of EUR 12.5 Million

Monday, 10 Jun 2013 01:00pm EDT 

AB Science SA announced that it issued to existing shareholders two bond loan agreements, convertible or repayable in ordinary shares, for the nominal amount of EUR 12,508,268 in a private arrangement. The amount of these bonds has been fully subscribed and issued. The bonds bear 0.00% or 0.25% interest to be paid annually, representing for the four bond loans an average annual interest rate of 0.18%. They also bear 2.50% accrued interest to be paid only in case of repayment of the loan in cash. The bonds are convertible into shares at any time at the initiative of the bondholder at the price of EUR 23.53 or EUR 29.30 per share, i.e. an average price of EUR 24.38 per share for both bond loans. The bonds may be repaid by anticipation in cash at the option of AB Science under certain conditions. They will be repayable in full on the seventh anniversary of the issue date at their nominal value. If so, the conversion of the bonds will represent the issuance of a maximum of 516,104 ordinary shares, representing a maximum dilution of 1.6%.