Commitments have been made by existing shareholders, members of the Management Board and a further investor to exercise their subscription rights and/or to take up any shares that are not placed at the stated subscription price for a total volume of 29.05 million euros of the subscription rights issue.
These financing commitments are subject to the condition, amongst others, that the exchange offer for ESCADA AG’s old 2005/2012 bond into new bonds receives the necessary minimum acceptance quota of 80% (referenced to the total 200 million euros nominal value of the old bond).
For further details on the capital increase please consult the prospectus, which the company will make available free of charge following its approval by the BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht - German Federal Financial Supervisory Authority).
The Management Board today has also extended the period of the exchange offer for the old 2005/2012 bond that had been announced on June 26, 2009 in order to permit the simultaneous settlement of both the exchange offer and the subscription. Bond holders now have until August 4, 2009 3 pm CET, instead of July 31, 2009, to accept ESCADA AG′s exchange offer. The other terms of the exchange offer remain unchanged.
Tags: Escada
