Between 18 March 2004 and 12 noon on 26 March 2004, shareholders of Feintool International Holding (as at 18 March 2004) will be granted non-negotiable preferential subscription rights for the issue. Each registered share confers an entitlement to one preferential subscription right, and 7,543 preferential subscription rights will be required to subscribe one convertible bond with a nominal value of CHF 1000.
The convertible bonds will have a term of 5 years, maturing on 8 April 2009. Under the terms of the issue, during this period the bonds can be converted into registered shares of Feintool International Holding free of charge at any time (American style). To secure the conversion rights, Feintool International Holding has reserved the requisite number of registered shares from the conditional capital increase of 16 March 2004.
The interest rate of the convertible bond will be set at between 1.5% and 2.25% based on an issue price of 100%. The conversion premium will be between 25% and 30%. The conditions are expected to be finalized on 30 March 2004 and will then be published. The bonds are to be listed on SWX Swiss Exchange.
The syndicate banks, headed by swissfirst Bank AG, Zurich as lead manager, will be offering the convertible bonds for open subscription until 12 noon on 30 March 2004 at the latest. The greenshoe option may be exercised from 30 March until 5:30 pm on 2 April 2004. The payment date is 8 April 2004.
For further information, please contact:
Reto Welte, CFO
Phone +41 (0)32 387 51 11, fax +41 (0)32 387 57 81
The press release can be downloaded from the following link:
