SOITEC : Soitec implements the early amortization of its 2018 OCEANEs for an amount of ?41.8 million and continues its debt relief process
(Thomson Reuters ONE) -
Soitec implements the early amortization of its 2018 OCEANEs
for an amount of ?41.8 million
and continues its debt relief process
Bernin (Grenoble), France, July 7, 2017 - Soitec, a world leader in generating
and manufacturing revolutionary semiconductor materials today announces the
early amortization, with an effective date on August 8, 2017, of all the
outstanding bonds convertible into and/or exchangeable for new or existing
shares issued by the Company on September 18, 2013 and expiring on September
18, 2018 (ISIN code FR0011566793) (hereinafter the « 2018 OCEANEs »)[1] and for
which the shares allocation right has not been exercised. As of today,
16,205,264 2018 OCEANEs are outstanding, representing approximately 40.5% of the
initially issued 2018 OCEANEs, as almost all others have been bought-back in
June 2016, as announced by the Company on June 6, 2016.
This transaction will enable Soitec to early reduce its debts by ?41.8 million.
The holders of the 2018 OCEANEs retain the ability up to and including July
28, 2017 to exercise their shares allocation right to receive 0.066 Soitec share
of two Euros (?2.00) par value per 2018 OCEANE, subject to adjustments made
after the publication of this press release, in accordance with the terms of the
2018 OCEANEs issuance contract. Requests for exercising the shares allocation
right must be received no later than July 28, 2017 at 4:00 pm (Paris time) by
BNP Paribas Securities Services - Grands Moulins de Pantin - 9 rue du
Débarcadère - 93500 Pantin - France, the centralizing agent.
Assuming that all the holders opt for shares allocation, a maximum of 1,069,547
new shares would be issued, representing approximately 3.5% of the share
capital, subject to adjustments of the conversion ratio.
For holders who did not exercise their shares allocation right, early redemption
of their 2018 OCEANEs will be made in cash on August 8, 2017, at par value, i.e.
?2.58 per 2018 OCEANE, plus accrued interests since the last interest payment
date, representing a total amount of ?2.64823 per 2018 OCEANE. Interests will
cease to accrue as from August 8, 2017.
About Soitec:
Soitec (Euronext, Tech 40 Paris) is a world leader in designing and
manufacturing innovative semiconductor materials. The company uses its unique
technologies and semiconductor expertise to serve the electronics and energy
markets. With 3,600 patents worldwide, Soitec's strategy is based on disruptive
innovation to answer its customers' needs for high performance, energy
efficiency and cost competitiveness. Soitec has manufacturing facilities, R&D
centers and offices in Europe, the U.S. and Asia.
For more information, please visit www.soitec.com and follow us on Twitter:
(at)Soitec_EN
Investor Relations
Media Contact
Steve Babureck
Camille Dufour +1 858 519 6230
+33 (0)6 79 49 51 43 or +33 (0)6 16 38 56 27
camille.dufour(at)soitec.com steve.babureck(at)soitec.com
Isabelle Laurent
+33 (0)1 53 32 61 51
isabelle.laurent(at)ddbfinancial.fr
Fabrice Baron
+33 (0)1 53 32 61 27
fabrice.baron(at)ddbfinancial.fr
# # #
Disclaimer
This announcement may not be published, distributed or circulated in the United
States of America. The early redemption undertaking may not be accepted in or
from the United States of America or any other jurisdiction in which said
redemption could be unlawful or subject to restrictions, nor may it be addressed
to persons residing in the United States of America or in any such jurisdiction.
No document pertaining to this early redemption may be directly or indirectly
transmitted in such jurisdictions or to such persons. This announcement is not
an offer to purchase securities in the United States of America or solicitation
of an order to sell securities in the United States of America or in any other
jurisdiction where such offer or solicitation would be illegal.
--------------------------------------------------------------------------------
[1] 2018 OCEANEs have been the subject of a prospectus approved by the French
Autorité des Marchés Financiers under visa no. 13-482 dated September 10, 2013.
Download the press release in PDF:
http://hugin.info/143589/R/2119027/807008.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: SOITEC via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 07.07.2017 - 17:40 Uhr
Sprache: Deutsch
News-ID 551478
Anzahl Zeichen: 5513
contact information:
Town:
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Kategorie:
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