Biofrontera AG:Ad hoc: Biofrontera AG emits new partial debentures of its 5% option bond 2011/2016
(Thomson Reuters ONE) -
Biofrontera AG /
/
Ad hoc: Biofrontera AG emits new partial debentures of its 5% option bond
2011/2016
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The issuer is solely responsible for the content of this announcement.
Leverkusen, 07 December 2011 -
Based on the authorization granted by the annual general meeting of 10 May
2011, the board of directors of Biofrontera AG (the "Company"), with the
approval of the supervisory board, resolved on 7 June 2011, to issue an option
bond 2011/2016 (DE000A1KQ9Q9; the "Option Bond"), divided into partial
debentures (the "Option Partial Debentures"). The Option Bond was offered in the
context of a subscription offer to the shareholders of the Company in June/July
2011 for subscription and in the context of an exchange offer to the creditors
of the 8 %-convertible bond 2005/2012 (ISIN DE000A0E9649) (its Partial
Debentures the "Convertible Partial Debentures") for exchange.
The Company resolved on November 16, 2011, to offer remaining Partial Debentures
to the shareholders for subscription again. In addition, Partial Debentures were
again offered for exchange against Convertible Partial Debentures. For details
see ad-hoc news release of November 16, 2011.
According to today's analysis, further Partial Debentures with a nominal value
of TEUR 3,195 were subscribed to. These new Partial Debentures do not include
subscriptions of the ongoing private placement. According to the knowledge of
the company this reduced the outstanding Convertible Partial Debentures to a
nominal value of TEUR 3,687.
In accordance with the terms and conditions of the convertible bond of
2005/2012, the Company has the right to terminate the Convertible Partial
Debentures as a whole in the case that the total nominal amount of the
outstanding Convertible Partial Debentures is less than 25% of the total nominal
amount of the Convertible Partial Debentures, i.e. TEUR 5,000. This requirement
is now fulfilled.
The company intends to make use of the option to prematurely return the
remaining Convertible Partial Debentures, i.e. to pay the Convertible Partial
Debentures back at 100% (instead of the 120% that include the capital surplus
for payback at final maturity).
The completion of the transaction has thus substantially and successfully
reduced the short-term liabilities and contributed to an additional improvement
of the company's financial structure.
Biofrontera AG, Hemmelrather Weg 201, 51377 Leverkusen
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
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Source: Biofrontera AG via Thomson Reuters ONE
[HUG#1569785]
Unternehmensinformation / Kurzprofil:
Datum: 07.12.2011 - 16:21 Uhr
Sprache: Deutsch
News-ID 94850
Anzahl Zeichen: 3535
contact information:
Town:
Leverkusen
Kategorie:
Business News
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