On 6 June 2013 KJK Fund, Sicav-SIF submitted request to exchange convertible H-bonds for shares.
Convertible H-bonds were issued on 11 May 2012 based on decision by the ordinary general meeting of shareholders held on 20 April 2012. 5,000,000 convertible bonds were issued to KJK Fund, Sicav-SIF (in the amount of 1.5 million euros) with annual interest of 7.5%. As decided on the ordinary general meeting of shareholders held on 20 April 2012 the share subscription price is 0.30 euros and subscription period is from 11 May 2013 until 10 May 2014. Shares subscribed shall give to the owner all rights of the shareholder of the Company as of the date of registration of issuance in Estonian Central Registry of Securities.
Baltika will convert the interest carrying bonds to shares as soon as possible. Baltika’s current borrowings will decrease as a result of the conversion by 1.5 million euros and share capital will increase by 1 million euros, share premium by 0.5 million euros. For the exchange of convertible bonds, Baltika needs to prepare and disclose Prospect that is registered in the Financial Supervision Authority.
Maigi Pärnik
Member of the Management Board
maigi.parnik@baltikagroup.com