DGAP-News: Activa Resources AG offers bondholders exchange into new bond with 9.25% yield
(firmenpresse) - Activa Resources AG / Key word(s): Issue of Debt
17.11.2010 08:00
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Activa Resources AG offers bondholders exchange into new bond with 9.25%
yield
- New bond with 9.25% p.a. total yield and attractive redemption terms
- Existing bondholders are invited to exchange holdings of the Activa
Resources AG 2006/2010 bond into the new bond
- Offer period: 17th November to 3rd December 2010
- Activa is aiming to remain financially flexible in order to swiftly
realise growth potential
Bad Homburg, 17th November 2010. Activa Resources AG is offering holders of
the Activa Resources AG 2006/2011 7% Bond (with or without warrants) a
direct exchange into a new Activa Resources AG 8% bond 2010/2014 with a
nominal value of EUR 100.
With an 8 % coupon and as a result of a redemption premium - the company
will redeem the bond with a 5 % premium in 2014 - the new bond offers a
total yield of 9.25 % p.a.
Both the company and bondholders can call the bond - in full or partially -
after 24 and 36 months. If the company redeems the bond early it will
redeem with a 5 % premium, thus providing holders with a total yield of up
to 10.5 %. Redemption if the bondholders call is at 100.
Accrued interest on the existing bond for the period since 21st April 2010
will be paid in the amount of EUR 4.3 per EUR 100 nominal value.
With the offer Activa is aiming to secure its ability to phase its debt
reduction according to the development stage of its oil and gas assets.
With recent operational successes - in particular at the OSR-Halliday field
in East Texas - the exchange offer will allow the company to swiftly
realise the growth potential of its assets.
The terms and conditions of the new Activa Resources AG 2010/2014 8% bond
are decisive and can be reviewed and downloaded in German from
www.activaresources.com.
The offer period runs from 17th November to 3rd December 2010. Acceptance
of the offer must be submitted to the bondholder's custodian bank. The
offer is made only to existing Activa Resources AG bondholders and does not
constitute a public offering of securities.
The Management Board
Queries: Leigh A. Hooper, CEO, Tel. +49 6172 483 2352
About Activa Resources AG
Activa Resources AG is an independent oil and gas company which focuses on
the acquisition, development and exploitation of oil and natural gas
properties. Activa Resources AG is listed on the Frankfurt stock exchange
and is based in Bad Homburg, Germany. The company's management and
technical team comprise oil industry experts with many years operational
experience at major international oil companies. Further information can be
found at www.activaresources.com.
Forward-looking statements
This news release includes forward-looking statements. Forward-looking
statements include, but are not limited to, statements concerning estimates
of expected drilling and development wells and associated costs, statements
relating to estimates of, and increases in, production, cash flows and
values and other statements which are not historical facts. When used in
this document, the words such as 'could,' 'plan,' 'estimate', 'expect',
'intend', 'may', 'potential', 'should' and similar expressions are
forward-looking statements. Although Activa believes that its expectations
reflected in these forward-looking statements are reasonable, such
statements involve risks and uncertainties and no assurance can be given
that actual results will be consistent with these forward-looking
statements. Important factors that could cause actual results to differ
from these forward-looking statements include the potential that the
Company's projects will experience technological and mechanical problems,
that geological conditions in the reservoir may not result in commercial
levels of oil and gas production, that changes in product prices can have a
material impact and that Activa fails to raise sufficient capital to
adequately fund its activities.
17.11.2010 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Datum: 17.11.2010 - 08:00 Uhr
Sprache: Deutsch
News-ID 32643
Anzahl Zeichen: 0
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Kategorie:
Business News
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