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Prelios SpA Enforces Mandate on Convertible Loan


Monday, 10 Jun 2013 06:31am EDT 

Prelios SpA announced that the Board of Directors has formally enforced its mandate assigned to it by the Shareholders’ Meeting on May 8, 2013, to implement the issue, up to the nominal amount of EUR 269,000,000.00, of mandatory convertible debentures (Convertible Debentures or Debentures) into ordinary shares and/or into class B shares (the Convertible Loan), excluding option right, with consequent capital increase for the exclusive service of the conversion. Consequently, the Board of Directors resolved to approve the relevant mandatory convertible debenture Regulation (the Convertible Debenture Regulation). The Convertible Loan shall consist of bonds with a unit face value of EUR 1,000, that shall be issued by Prelios at the date to be specified after the execution of the Capital Increase with Option Rights. Following to the Capital Increase with Option Rights the exact amount will be determined (up to the nominal amount of EUR 269,000,000.00) as well as the total number of Convertible Debentures, both for Tranche A and Tranche B (up to max. EUR 269,000,000). In particular, 71.1% of all Convertible Debentures will be allocated to Tranche A and 28.9% to Tranche B, reserved for subscription to Lenders(1), for Tranche A, and to Pirelli & C. S.p.A., for Tranche B, respectively. 

Company Quote

0.4455
-0.0025 -0.56%
11:30am EDT