Biofrontera AG extends offer to exchange its convertible bond
(Thomson Reuters ONE) -
Biofrontera AG /
Biofrontera AG extends offer to exchange its convertible bond
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The issuer is solely responsible for the content of this announcement.
Leverkusen - Biofrontera AG (DSE: B8F) announced today that the ongoing exchange
offer for its convertible bond 2005/2012 with a new options bond will be
extended until July 20. The reason is that many private investors show interest
towards the end of the exchange period, and the extension is provided to allow
every investor to accept the offer.
With respect to the conditions of the offer it should be noted that Biofrontera
offers already today the payback rate of 120% that is expected a year from now
for the convertible bond. A nominal amount of ? 100.-in the old bond will be
exchanged to a nominal sum of ? 120.-- in the new bond. The latter will expire
by the end of 2016, will then be returned, and has an annual interest rate of
5%. Potentially even more interesting than the coupon is, however, the warrant
component which allows investors to participate in the increase of Biofrontera's
still low share price. Each nominal sum of ?100.-of the new bond is connected
with 10 warrants, each allowing to purchase one Biofrontera share at a share
price of ? 3.- until December 2016. This price is similar to today's share
price, which will thus be fixed for the bond holders until the end of 2016.
The parallel period in which the current shareholders can exercise their
purchase rights will not be extended.
Following the completion of the exchange and purchase right periods, Biofrontera
will offer the remaining new bond to qualified investors within a private
placement. The bond will be particularly attractive for investors who look for a
fixed-interest investment with an additional chance for an increase in value,
but who do not want to carry the risk of investing directly at the stock market.
An increase in stock price is strongly expected by the analysts following the
European approval of Biofrontera's leading drug candidate BF-200 ALA, which
according to plan should occur in the course of the year. To allow investors to
make full use of the possibilities, the bond will be traded at the stock market
both combined and separate from the warrants.
Biofrontera AG
Biofrontera aims at attending and treating the skin, recognizing the aesthetic
needs of a person's visual reflection.
Biofrontera is listed in the regulated market of the Düsseldorf stock exchange
under the symbol B8F and the ISIN number DE0006046113.
www.biofrontera.com
This press release contains forward-looking statements based on the currently
held beliefs and assumptions of the management of Biofrontera AG, which are
expressed in good faith and, in their opinion, reasonable. Forward-looking
statements involve known and unknown risks, uncertainties and other factors,
which may cause the assumptions expressed or implied in this press release to be
faulty. Given these risks, uncertainties and other factors, recipients of this
document are cautioned not to place undue reliance on the forward-looking
statements. Biofrontera AG disclaims any obligation to update these forward-
looking statements to reflect future events or developments.
For further information please contact:
Werner Pehlemann
Chief Financial Officer
+ 49 (0) 214 87632 0
+ 49 (0) 214 87632 90
w.pehlemann(at)biofrontera.com
Biofrontera AG
Hemmelrather Weg 201
D- 51377 Leverkusen, Germany
--- 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#1531156]
Unternehmensinformation / Kurzprofil:
Datum: 14.07.2011 - 18:23 Uhr
Sprache: Deutsch
News-ID 56412
Anzahl Zeichen: 4857
contact information:
Town:
Leverkusen
Kategorie:
Business News
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"Biofrontera AG extends offer to exchange its convertible bond"
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