Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) (the “Company”) announced today that it is launching a voluntary incentive offer to holders of the CHF 100 million 5.5% convertible bonds due 2020 issued by the Company (the “Bonds”) (the “Incentive Offer”). The Bonds, bearing ISIN number CH0253445131 and Ticker-Symbol MBT14, were issued on 17 September 2014 and amended by majority vote at a bondholder meeting on 25 November 2016. Acceptance of the Incentive Offer will allow Meyer Burger to save future interest payment and to convert the corresponding liability into equity early without incurring any additional dilution compared to a conversion after the next coupon payment date which is likely based on the current trading of the Bonds and the Shares.
As further set out in the official offer document dated 27 November 2017, the Company offers to pay a cash incentive of CHF 250 per CHF 5,000 principal amount of the Bonds to holders of the Bonds who elect to exercise their right to convert their Bonds into Meyer Burger registered shares (“Shares”) at the prevailing conversion price in accordance with the terms and conditions of the Bonds (the “Terms of the Bonds”) during the period starting today and ending at 16.00 CET on 5 December 2017 (the “Acceptance Period”).
Meyer Burger has engaged Credit Suisse as dealer manager for the Incentive Offer.
