EANS-Adhoc: Precious Woods Holding Ltd.
Successful private placement of
convertible notes in the amount of CHF 17 million
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
Company Information
04.12.2009
Precious Woods announces the successful private placement of the convertible notes issue in the amount of CHF 17 million and with a life of five years. The placement occurs a week after Precious Woods successfully concluded its negotiations with the banks on the mid-term financing.
The Board of Directors and the Group Management appreciate the successful placement of the convertible notes which is considered a sign of confidence within the company. The proceeds of the transaction will be used to finance actions aimed to enhance the group´s long term profitability.
The registered shares of Precious Woods Holding Ltd are listed on the Main Standard of the SIX Swiss Exchange. The convertible notes will not be listed or traded on any stock exchange.
The final conditions of the convertible notes are as follows:
Issuer Precious Woods Holding Ltd, Zug Amount CHF 17 million Issue price 100% Coupon 6.25% p.a., payable annually on 15 December, after deduction of Swiss Federal withholding tax of currently 35%. Payment date 15 December 2009 Life 5 years Redemption 15 December 2014 at nominal value After two years at the earliest at the nominal value, in the event (i) that the closing price of the registered shares is at least 130% of the then prevailing conversion price on at least 20 out of 30 trading days, or (ii) at least 85% of the nominal amount of the notes has been converted or has been redeemed by the Issuer and the corresponding notes have been cancelled. Conversion right and conversion price The notes may, at any time from 25 January 2010 until 1 December 2014 or 5 banking days before the date fixed for an early redemption, be converted into registered shares of Precious Woods Holding Ltd with a nominal value of CHF 50 each.
Conversion ratio One bearer note with a nominal value of CHF 5,000 may be converted into 100 registered shares of Precious Woods Holding Ltd during the conversion period.
Conversion price The conversion price is CHF 50 per new registered share with a nominal value of CHF 50.
Restrictions U.S.A., U.S. Persons, European Economic Area as well as outside Switzerland to institutional investors according to sales restrictions of corresponding countries only.
If and to the extent that this press release is communicated in, or the offer of securities to which it relates is made in, any EEA member state that has implemented Directive 2003/71/EC (together with any applicable implementing measures in any member state, the "Prospectus Directive"), this press release and the offering of any securities described herein are only addressed to and directed at persons in that member state who are qualified investors within the meaning of the Prospectus Directive (or who are other persons to whom the offer may lawfully be addressed) and must not be acted on or relied on by other persons in that member state. This press release does not constitute a prospectus within the meaning of the Prospectus Directive.
end of ad-hoc-announcement ========================================== ====================================== Precious Woods is one of the leading companies in the area of sustainable management and use of tropical forests. The company's core activities include reforestation and sustainable management of tropical forests, timber processing and the trading of FSC-certified timber products. The generation of emission rights and electricity from recovery wood represent further integral elements of the companys business. The shares of Precious Woods Holding have been traded on the SIX Swiss Exchange since March 2002. Further information about Precious Woods is available at www.preciouswoods.com.
end of announcement euro adhoc
Further inquiry note:
Patrick Mauron
Head of Corporate Communication
Precious Woods Holding Ltd.
Militärstrasse 90
CH-8021 Zürich
Tel.: +41 44 245 81 20
E-Mail: media@preciouswoods.com
Branche: Forestry & Timber
ISIN: CH0013283368
WKN: 982280
Index: SPI
Börsen: SIX Swiss Exchange / official dealing