adidas AG announces early redemption of convertible bond 2003/2018
(ISIN DE0009038968)
(Thomson Reuters ONE) - Herzogenaurach - On behalf of its Dutch subsidiary adidasInternational Finance B.V., adidas AG announces that the Company isredeeming the ? 400 million convertible bond, issued in August 2003and guaranteed by adidas AG, pursuant to § 3 (3) of the Terms andConditions of the Bonds prior to maturity on October 8, 2009,effective November 23, 2009. In accordance with the Terms andConditions of the Bonds, outstanding bonds will be redeemed on thisdate at their principal amount plus interest accrued as far asbondholders do not exercise their conversion rights by the end ofNovember 9, 2009.In light of the current adidas AG share price, the Company expectsthat most or all bondholders will exercise their conversion rights.If all bondholders exercise their conversion rights, this wouldresult in up to 15,684,313 new shares being issued from the Company'sContingent Capital 2003/II. The new shares will be entitled todividends as of the beginning of the financial 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%.About the adidas GroupThe adidas Group is one of the global leaders within the sportinggoods industry, offering a broad range of products around three coresegments: adidas, Reebok and TaylorMade-adidas Golf. Headquartered inHerzogenaurach, Germany, the Group has more than 38,000 employees andgenerated sales of EUR 10.8 billion in 2008. ***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/1346282/323356.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 07.10.2009 - 16:42 Uhr
Sprache: Deutsch
News-ID 6695
Anzahl Zeichen: 0
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London
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Business News
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(ISIN DE0009038968)"
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