DGAP-News: Pyrolyx AG to Issue Convertible Bonds
(firmenpresse) - DGAP-News: Pyrolyx AG / Key word(s): Corporate Action/Issue of Debt
Pyrolyx AG to Issue Convertible Bonds
10.10.2013 / 18:25
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Corporate News
Pyrolyx AG to Issue Convertible Bonds
Munich, October 10, 2013
The Board of Management of Pyrolyx AG (Primary Market of Düsseldorf Stock
Exchange; WKN A0MFXR; ISIN DE000A0MFXR8) decided on 10 October 2013 with
the Supervisory Board's approval to issue convertible bonds. The bonds with
a total volume of up to EUR10,071,600 will be offered to Pyrolyx
shareholders. Once the subscription period has expired, any convertible
bonds not taken up by shareholders will be offered to other interested
investors.
The five-year convertible bonds will bear interest at the rate of 10% p.a.
from the date of issue. The interest is due at maturity and only in those
cases that convertible bondholders do not convert into shares in Pyrolyx
AG. The bonds will be divided into up to 143,880 convertible bearer bonds
with a nominal value of EUR70.00 each.
From 1 December 2013, bondholders will be allowed to convert their bonds at
any time (except during certain time windows) into no par value bearer
shares in Pyrolyx AG. Conversion rights may only be exercised in units of
at least 1,000 convertible bonds (unless the total number of convertible
bonds to which a bondholder is entitled is below 1,000).
The conversion rights will be secured by the contingent capital of
EUR143,880 approved by the annual general meeting of Pyrolyx AG on 26 June
2013 and entered in the commercial register on 28 June 2013.
The two-week subscription period will probably begin on 23 October 2013,
assuming approval of the offering prospectus is granted in time by the
Federal Financial Supervisory Authority (BaFin/Bundesanstalt für
Finanzdienstleistungsaufsicht). Shareholders will receive more information
from their custodian banks accordingly.
Pyrolyx plans to use the bond issue proceeds mainly to in connection with
the construction of the first commercial production plant for Pyrolyx
Carbon Black and to provide additional funds for its current operations.
About Pyrolyx
Pyrolyx AG is a Munich-based company specializing in practical and applied
research into environmental technology.
The company has developed a unique process that enables valuable raw
materials such as carbon black to be made from commercial rubber granules
produced from for instance end-of-life tires. Carbon black is used to
manufacture tires and various industrial rubber items. The Pyrolyx process
enables a sustainable closed recycling loop for the first time for the
reuse of end-of-life tires.
Pyrolyx owns all the intellectual property rights to Pyrolyx environmental
technology and has various patents pending concerning the industrial
production of carbon black. Pyrolyx AG is quoted on the Primary Market of
Düsseldorf Stock Exchange (WKN A0MFXR/ISIN DE000A0MFXR8).
Management Board
Niels Raeder - Fikret Dülger - Michael Hommert
Press officer:
Rolf-Hendrik Arens
VP Communications
Pyrolyx AG - Munich
Email: arens(at)pyrolyx.com
Mobile: +49 (0)151 7010 1070
Office: +49 (0)89 856 3350
www.pyrolyx.com
End of Corporate News
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10.10.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Pyrolyx AG
Nymphenburger Str. 70
80335 München
Germany
Phone: +49 (0)89 856 335 58
Fax: +49 (0)89 856 335 55
E-mail: info(at)pyrolyx.de
Internet: www.pyrolyx.de
ISIN: DE000A0MFXR8
WKN: A0MFXR
Listed: Freiverkehr in Düsseldorf
End of News DGAP News-Service
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234188 10.10.2013
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Datum: 10.10.2013 - 18:25 Uhr
Sprache: Deutsch
News-ID 304843
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