Announcement No. 11-2010
27 April 2010
To NASDAQ OMX Copenhagen A/S
Convertible loan
At a board meeting held immediately after Netop Solutions' annual general
meeting today, the board of directors resolved to exercise the authorisation
provided today by the shareholders in general meeting (see item 6d of the
agenda for the annual general meeting distributed on 31 March 2010) to raise
loans of EUR 2,500,000 by issuing a convertible debt instrument. The loan is
taken in order to strengthen Netop Solutions capital base going forward.
The lender is Consolidated Holdings A/S, Netop Solutions' largest shareholder.
The Chairman of Netop Solutions' board of directors, Ib Kunøe, has a
controlling interest in Consolidated Holdings A/S and also serves as that
company's chairman.
The loan will be disbursed in cash today and will carry 5% interest per annum.
The debt instrument can be converted as from today until 30 April 2015,
inclusive. The conversion rate has been determined as the average price (All
trades) of the company's shares during the three business days preceding the
date of execution of the debt instrument, which is today, always provided such
price not being below par. Conversion of the debt instrument will take place on
receipt by the company of the lender's written request to such effect and can
be done successively. The amount by which the share capital is increased cannot
exceed the equivalent in Danish kroner of EUR 2,500,000, calculated at the
exchange rate prevailing at the date the company receives the request for a
conversion.
The above terms for issuing a convertible debt instrument are consistent with
the authorisation provided. See the complete wording of proposals submitted for
the annual general meeting distributed on 31 March 2010.
Contact
Kurt Bager, CEO
Tel: +45 45 90 25 25
E-mail:kgb@netop.com
Netop Solutions A/S
Netop develops and sells software solutions enabling swift, stable and secure
transfer of video, screen images, sound and data over the Internet. The company
has three core business areas: Administration, Education and Communication.
Netop's unique and cost-saving Administration solutions makes work easier for
IT professionals through remote control and IT asset management. Netop's
market-leading Education solutions for classroom management and corporate
e-learning help students and teachers achieve optimum results through virtual
teaching. Netop's Communication solutions allow customers, business partners
and colleagues to meet easily and safely in virtual space through chat, video
or voice over the Internet. Netop has about 140 employees and subsidiaries in
the USA, the UK, Romania and Switzerland. The company sells its solutions to
public and private sector customers in more than 80 countries. Netop Solutions
A/S is listed on NASDAQ OMX Copenhagen. Netop generated revenue of DKK 85.3m in
2009. For more information, go to www.netop.com.
Translation In the event of any inconsistency between this document and the
Danish language version, the Danish language version shall be the governing
version.
