Ad-hoc: adidas AG Announces Early Redemption of the Convertible Bond
2003/2018 (ISIN DE0009038968)
(Thomson Reuters ONE) - Herzogenaurach - adidas AG has decided today to approve the early andcomplete redemption of the 2.5% Convertible Bonds 2003/2018 withconversion rights into adidas AG (formerly adidas-Salomon AG)no-par-value ordinary bearer shares in the total principal amount of? 400,000,000 issued on October 8, 2003 by adidas InternationalFinance B.V. (formerly adidas-Salomon International Finance B.V.) andunconditionally and irrevocably guaranteed by adidas AG. Theredemption will be effected prior to maturity on October 8, 2009,effective November 23, 2009.On November 23, 2009, the bonds will be redeemed at the totalprincipal amount plus interest on the principal amount accrued until(but excluding) this day as far as bondholders do not exercise theirconversion rights by the end of November 9, 2009.Given the current adidas AG share price, the Company expects thebondholders to largely or completely exercise their conversionrights. In case all holders of the convertible bond make use of theirconversion rights, up to 15,684,313 ordinary bearer shares based onthe Contingent Capital 2003/II of the Company will be issued againstthe conversion of a claim for payment of EUR 25.50 per share. The newshares will be entitled to dividends as of the beginning of thefinancial year 2009.As far as the conversion rights are exercised, adidas AG will reduceits net debt and increase its equity, bringing the Company closer toits declared goal of financial leverage below 50%. ***Contacts:Media Relations Investor RelationsJan Runau John-Paul O'MearaChief Corporate Communications Officer Head of Investor RelationsTel.: +49 (0) 9132 Tel.: +4984-3830 (0) 9132 84-2751Kirsten Keck Dennis WeberCorporate PR Manager Investor Relations ManagerTel.: +49 (0) 9132 84-6207 Tel.: +49 (0) 9132 84-4989Katja SchreiberCorporate PR ManagerTel.: +49 (0) 9132 84-3810Please visit our corporate website: www.adidas-Group.comhttp://hugin.info/139192/R/1346275/323354.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 07.10.2009 - 16:40 Uhr
Sprache: Deutsch
News-ID 6694
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2003/2018 (ISIN DE0009038968)"
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