Brief: Paragon GmbH & Co KGaA Receives New Counterproposal From Serone Capital

paragon GmbH & Co KgaA

09/03/2022 18:32

March 9 (Reuters) - Paragon GmbH & Co KGaA  PGNG.DE :
    * ENDORSES NEW COUNTERPROPOSAL FROM SERONE CAPITAL
    * CONVERTIBLE BOND SHALL BE LISTED ON OPEN MARKET OF
FRANKFURT
STOCK EXCHANGE
    * THE REPAYMENT OF CHF BOND CANNOT - EXCEPT FOR A PARTIAL
AMOUNT
OF 25% - BE REFINANCED BY TAKING OUT A SECURED LOAN
    * COUNTERPROPOSAL FROM SERONE CAPITAL FOR UPCOMING EXTENSION
OF
4.50% BOND 2017/2022 SUPPLEMENTS COUNTERPROPOSAL OF HANSEATISCHE
INVESTMENT GMBH
    * CO BELIEVES THIS REPRESENTS LIMIT OF WHAT CO CAN AFFORD,
PARAGON
ENDORSES PROPOSAL, RECOMMENDS BONDHOLDERS VOTE IN FAVOR OF IT
    * CAN BE CONVERTED INTO SHARES AT VOLUME WEIGHTED AVERAGE
PRICE
(VWAP) OF LAST 30 DAYS BEFORE 10 MAR 2022 PLUS A PREMIUM OF 25%
    * PARAGON SHALL EITHER PAY 2.5% P.A. IN CASH TO BONDHOLDER
OR
GRANT BONDHOLDER A CONVERTIBLE BOND IN AMOUNT OF 3% P.A

Source text for Eikon:  ID:nEQ46V0wGa 
Further company coverage:  PGNG.DE 

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