SPORTTOTAL AG approves convertible bond issue
Cologne, 20 May 2020. The Management Board of SPORTTOTAL AG (the “Company”), with the approval of the Supervisory Board, has today passed a resolution to issue a convertible bond from conditional capital, under exclusion of shareholders’ subscription rights.
The Management Board and Supervisory Board of SPORTTOTAL AG have today passed a resolution to issue a convertible bond of up to EUR 3,094,000.00 with a five -year maturity and an interest rate of 8.5% p.a. (“Convertible Bond”). The Convertible Bond is divided into up to 3,094 fractional bonds, each of which entitles the holder to subscribe to 1,000 new shares in the Company after a waiting period.
The bonds will be offered to qualified institutional investors by way of a private Placement.