Schaltbau announces early repayment of convertible bonds

Schaltbau Holding AG  / Key word(s): Miscellaneous

03.03.2011 20:24

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Schaltbau announces early repayment of convertible bonds

Munich, 3 March 2011 - Schaltbau Holding AG announces the early and
complete termination of the convertible bonds it issued in June / July 2007
at 4.75% (ISIN DE000A0TFWY1 - WKN A0TFWY) for the original entire nominal
amount of EUR 8.5 million.
 
In accordance with article 4 paragraph 3 of the bond conditions, the
requirements for the company to terminate the convertible bond are
fulfilled at the end of XETRA trading on 3 March 2011, as the XETRA-quoted
price of the Schaltbau share exceeded EUR 59.54 and therefore 130% of the
conversion price of EUR 45.80 on at least 20 trading days within a period
of 30 consecutive trading days, beginning on 28 January 2011 and ending on
3 March 2011.

Details regarding termination and the deadlines to be adhered to will be
explained shortly in a Corporate News release and subsequently published
both by way of announcement in the electronic Federal Gazette and in the
German newspaper 'Frankfurter Allgemeine Zeitung'.

Due to the current market price of the Schaltbau Holding AG share, the
company expects the holders of convertible bonds to exercise most of or all
of their conversion rights. The amount repayable currently stands at
approximately EUR 7.7 million. If all holders of convertible bonds decide
to exercise their conversion rights, the equity of Schaltbau Holding AG
will increase accordingly. Based on equity as at 31 December 2010, a 100%
conversion would thus improve the Group equity ratio from 17.5% to 21.8%.
The total of 1,875,162 Schaltbau shares at 31 December 2010 would increase
by up to 179,347 shares.


Kontakt:
Wolfdieter Bloch
Schaltbau Holding AG
Hollerithstraße 5
81829 München
Tel. 089 - 93005 209
Fax  089 - 93005 318
bloch@schaltbau.de






03.03.2011 DGAP's Distribution Services include Regulatory Announcements, 
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Language:     English
Company:      Schaltbau Holding AG
              Hollerithstraße 5
              81829 München
              Deutschland
Phone:        089 - 93005 - 209
Fax:          089 - 93005 - 318
E-mail:       bloch@schaltbau.de
Internet:     www.schaltbau.de
ISIN:         DE0007170300, DE000A0D66Z2, DE000A0TFWY1
WKN:          717030, A0D66Z2, A0TFWY1
Listed:       Regulierter Markt in Frankfurt (Prime Standard), München;
              Freiverkehr in Berlin, Düsseldorf, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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