Navigator Equity Solutions N.V.
euro adhoc: Navigator Equity Solutions N.V.
Capital measures
Navigator
Equity Solutions N.V.: Details of convertible bond
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
09.05.2006
Eindhoven, May 9, 2006 - Navigator announces the details of its convertible bond issue raising up to euro 21,704,364. The convertible bonds will be issued with pre-emptive rights for existing shareholders in the period from May 11 to May 24, 2006 (including). The issue price will be euro 0.23 per convertible bond. The convertible bond has a term of four years and can be converted during this period in up to 94,366,800 shares in Navigator Equity Solutions N.V. without additional payment. The first conversion window for the bond holder will take place in August 2006. Navigator reserves the right to convert the bonds at any time after the Annual General Meeting for the fiscal year 2005 (expected in June 2006).
Existing shareholders of Navigator Equity Solutions N.V. will be granted pre-emptive rights at a ratio of 1:3 (three new convertible bonds for one existing share). The amount of pre-emptive rights allocated to each shareholder will be determined by the amount of shares held by shareholders by the end of May 10, 2006. Furthermore each shareholder will have the right to subscribe for additional bonds (overallotment). However, a legal claim on allocation of an overallotment does not exist. Remaining convertible bonds might be placed with selected investors via a private placement. A stock market trade in pre-emptive rights will not take place.
Further details on the convertible bond issue can be found on the website of Navigator Equity Solutions N.V. (http://www.navigator-equity.com) in due course as well as in the published subscription offer and the terms and condition of the convertible bond issue.
The proceeds will be used for investments in companies in special situations such as restructurings or succession problems. Based on a full consolidation of these investments Navigator Equity Solutions N.V. aims to increase revenues and profit significantly in the upcoming years.
end of announcement euro adhoc 09.05.2006 10:18:42
Further inquiry note:
Navigator Equity Solutions N.V. (Office Germany)
Maximilianstrasse 47
80538 München
Tel.: + 49 (0)89 2111 28 25
Fax: + 49 (0)89 2111 28 28
Branche: Financial & Business Services
ISIN: NL0000419398
WKN: A0B8U5
Börsen: Bayerische Börse / regulated dealing
Börse Berlin-Bremen / free trade