Ad hoc:Biofrontera AG:Ad hoc: Biofrontera AG issues 5% convertible bond 2011/2016
(Thomson Reuters ONE) -
Biofrontera AG /
/
Ad hoc: Biofrontera AG issues 5% convertible bond 2011/2016
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The issuer is solely responsible for the content of this announcement.
Leverkusen, Germany, June 7, 2011 - Based on the authorization granted by the
annual general meeting of Biofrontera AG dated May 10, 2011, the board of
directors resolved today, with the approval of the supervisory board, to issue
option bonds in a total nominal amount of up to EUR 25,000,000. The material
conditions of the bonds are essentially as follows, provided, however, that only
the terms and conditions of the bonds shall be binding:
1) division into partial debentures with a nominal value of EUR 100.00
2) interest of 5 % per annum
3) termination on December 31, 2016
4) redemption at 100 per cent of nominal value
5) each partial debenture is issued along with ten (10) detachable options
with a term; each option grants the right, until 1 January 2017, to
purchase one share of Biofrontera AG at an exercise price of EUR 3.00
6) The option bond (cum and ex warrant) as well as detached options will be
trading at the Düsseldorf Stock Exchange
The shareholders are granted a subscription right as well as an additional
subscription right. The bonds are issued at a price of 100% of the nominal
value.
Should the shareholders not subscribe to all bonds, any remaining bonds shall be
commercialized. To this end, the bonds shall be offered to (i) the creditors of
the 8%-convertible bond 2005/2012 (ISIN DE000A0E9649) for exchange at a quota of
5 : 6 or (ii) by way of private placement to interested investors at
subscription price.
The Company has commissioned Lang & Schwarz Broker GmbH, Düsseldorf, with the
transaction and placement of the capital measure as well as with the admission
of the convertible bond to the unregulated trade at the Düsseldorf Stock
Exchange.
According to the terms and conditions of the convertible bond 2005/2012 (ISIN
DE000A0E9649), the Company has the right to prematurely terminate said bond in
whole, provided that the total nominal value of all outstanding bonds is equal
to or less than the total nominal value of the bond, i.e. the nominal value of
the outstanding bonds amounts to EUR 5,000,000 or less. Provided that the
required conditions are met, the Company intends to exercise said termination
right.
The subscription and exchange offer will be published in the Federal Electronic
Gazette dated June 9, 2011.
This ad-hoc release contains forward looking statements that are based on the
current assumptions and prognoses of Biofrontera's management. Known and unknown
risks, uncertainties and other factors may cause the actual development,
particularly approval processes of new drugs, results, the financial development
and the business of the company to differ greatly from the current forward
looking assumptions.
Biofrontera AG, Hemmelrather Weg 201, 51377 Leverkusen, Germany
ISIN: DE0006046113, WKN: 604611
Contact:
Werner Pehlemann
Biofrontera AG
Tel.: +49 (0214) 87 63 20
Fax.: +49 (0214) 87 63 290
E-mail:w.pehlemann(at)biofrontera.com
--- End of Message ---
Biofrontera AG
Hemmelrather Weg 201 Leverkusen Germany
WKN: 604611;ISIN: DE0006046113;
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Börse Berlin,
Open Market (Freiverkehr) in Frankfurter Wertpapierbörse,
Freiverkehr in Bayerische Börse München,
Regulierter Markt in Börse Düsseldorf;
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Biofrontera AG via Thomson Reuters ONE
[HUG#1521861]
Unternehmensinformation / Kurzprofil:
Datum: 07.06.2011 - 18:21 Uhr
Sprache: Deutsch
News-ID 55381
Anzahl Zeichen: 4558
contact information:
Town:
Leverkusen
Kategorie:
Business News
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