Helsinki, Finland, 2017-09-06 08:00 CEST (GLOBE NEWSWIRE) -- Suominen Corporation Stock Exchange Release 6 September 2017 at 9:00 am (EEST) Change in the number of shares of Suominen Corporation due to share conversions related to the hybrid bond In February 2014, Suominen Corporation issued a EUR 17.5 million convertible hybrid bond. In accordance with the terms and conditions of the bond, the bondholders have a right to convert the bond notes and the accrued capitalized interest related to the notes into Suominen shares. The conversion period started on 11 February 2014 and will end on 10 February 2018. Conversion Rate of the bond is EUR 2.50 per share. Bond notes and the accrued capitalized interest related to the notes have been converted to total of 44,960 new shares in Suominen Corporation. The new shares will be registered in the Trade Register tentatively by 13 September 2017, as of which date the new shares will establish shareholder rights for the owners. The shares will be traded on the Nasdaq Helsinki tentatively by 14 September 2017. The conversion rate shall be recorded under the invested non-restricted equity fund of Suominen. Prior to the conversion, Suominen Corporation had total of 53,794,935 shares and votes. After the registration of the new shares granted due to the conversion, Suominen Corporation has a total of 53,839,895 shares and votes. The number of shares in Suominen may increase by maximum of 4,501,520 shares on the basis of the conversion of the bond notes and the potential capitalized interest, if the conversion is carried out by issuing new shares in Suominen. The purpose of the issue of the hybrid bond was to finance the acquisition of the plant in Brazil in February 2014. The issue was based on the authorization by the Extraordinary General Meeting on 31 January 2014. The Conversion rate is market-based and corresponds with the average volume weighted share price of the Company’s share during the last three (3) months before the issue of the bond. The Conversion Rate was revised after the reverse share split implemented in March 2016. Suominen Corporation Nina Kopola, President & CEO For further information, please contact Nina Kopola, President & CEO, tel. +358 10 214 300 Distribution: Nasdaq Helsinki Key media www.suominen.fi Suominen in brief Suominen manufactures nonwovens as roll goods for wipes as well as for medical and hygiene products. The end products made of Suominen’s nonwovens – wet wipes, feminine care products and swabs, for instance – bring added value to the daily life of consumers worldwide. Suominen is the global market leader in nonwovens for wipes and employs over 650 people in Europe and in the Americas. Suominen’s net sales in 2016 amounted to EUR 416.9 million and comparable operating profit to EUR 25.6 million. The Suominen share (SUY1V) is listed in Nasdaq Helsinki Stock Exchange (Mid Cap). Read more at www.suominen.fi .
Change in the number of shares of Suominen Corporation due
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