NOT FOR DISTRIBUTION IN THE UNITED STATES, THE EUROPEAN ECONOMIC AREA AND THE UNITED KINGDOM
HOCHDORF Group press release on early repayment of convertible bond
Early repayment of 3.0% convertible bond 2011 - 2016
Hochdorf, 26 November 2015 - HOCHDORF Holding Ltd announces the early repayment of the outstanding amount of its 3.0% convertible bond 2011 - 2016.
HOCHDORF Holding Ltd is to repay 100% of the outstanding amount, including accrued interest, of the 3.0% convertible bond agreed in May 2011. The conditions for an early repayment of the convertible bond by the company have been met in accordance with point 4.7.2.1 of the terms and conditions of the bond since the price of the HOCHDORF Holding Ltd named shares at close of trading was listed at over CHF 160.03 (130% of the current conversion price of CHF 123.10) within a period of 30 consecutive trading days, beginning on 28 October 2015.
The last day on which conversion privileges may be exercised is 18 December 2015.
Insofar as bondholders do not exercise their conversion privileges, the nominal amount of the convertible bond shall be repaid plus the additional accrued interest of CHF 86.25 per nominal CHF 5,000.00 on 28 December 2015 in accordance with the provisions stipulated by the bond's terms and conditions.
Planned timeline
| 18/12/2015 |
Last day to exercise conversion privileges |
| 23/12/2015 |
Last trading day of the 3.0% convertible bond 2011 - 2016 |
| 28/12/2015 |
Repayment of the 3.0% convertible bond 2011 - 2016 |
Further enquiries and additional information:
Contact: Dr. Christoph Hug, Head of Corporate Communications HOCHDORF Group,
Tel: +41 (0)41 914 65 62 / +41 (0)79 859 19 23, christoph.hug@hochdorf.com
Legal note
This press release and the information included in it may not be released or made public in the United States of America or to citizens of the USA (including legal representatives) or distributed or disseminated in media with widespread coverage in the USA. Any infringement of these restrictions may result in a violation of US securities regulations. This bond shall not be offered for sale beyond the Swiss national borders. This press release does not constitute an offer of sale or an underwriting of securities; it shall be deemed neither to be an issuing prospectus in line with Art. 652a/1156 of the Swiss Code of Obligations [OR] nor to be a listing prospectus in the sense of the SIX Swiss Exchange's listing regulations.
The HOCHDORF Group, based in Hochdorf, achieved a consolidated gross sales revenue of CHF 428.7 million in 2014. It is one of the leading foodstuff companies in Switzerland, employing 573 staff as of 31/12/2014. Made from natural ingredients such as milk, wheat germ and oil seeds, HOCHDORF products have been contributing to our health and wellbeing since 1895 - from babies to senior citizens. Its customers include the food industry and the wholesale and retail sectors. Its products are sold in around 80 countries. The shares are traded on the SIX Swiss Exchange in Zurich (ISIN CH0024666528).
