ENCAVIS AG / Key word(s): Miscellaneous/Bond
Encavis AG: Early mandatory conversion of hybrid convertible bonds issued in 2017 and 2019
The Management Board of the Company and the Managing Directors of Encavis Finance B.V. have decided today, with the consent of the Supervisory Board of the Company to exercise its contractual right to early mandatory conversion of the Bonds. The early mandatory conversion in one transaction instead of multiple individual conversions increases efficiency of the conversion process significantly.
The mandatory conversion of still outstanding Bonds in an aggregate principal amount of EUR 149.5 million shall take place at the conversion price of EUR 7,0836 last announced on May 31, 2021. Each bond will be converted into the number of shares of the Company calculated by dividing the nominal amount of the bonds to be converted by the conversion price. The Company intends to create the required shares from the Conditional Capital 2017 and 2018 and from the Authorised Capital 2021.
Encavis is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG's environmental, social and governance performance has been awarded by two of the world's leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with "AA" and ISS ESG with their "Prime" label.www.encavis.com
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|Phone:||+49 4037 85 62 -0|
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|Listed:||Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1229549|
|End of Announcement||DGAP News Service|