CONSUS Real Estate AG: Revised conversion mechanism to align with standard market conversion process as provided for by the terms and conditions of the EUR 200,000,000 4.00% bonds due 2022
- Bondholders’ meeting to pass resolution on amendment of terms and conditions
- Conversion mechanism to be revised to align with standard conversion process
- Conditional capital serving as underlying shares in the future
- Economic terms of bonds (in particular the nominal amount, term, coupon, conditions for conversions incl. cash settlement) remain unchanged
Berlin,  September 2019: The management board and supervisory board of Consus Real Estate AG (the Company) today resolved to propose to the bondholders of the EUR 200,000,000 4.00% bonds due 2022 (the Bonds) an amendment of the terms and conditions of the Bonds, to be resolved upon by the bondholders in a voting without physical meeting.
The current terms and conditions provide that bondholders in connection with a conversion request may offer bonds held by them to the Company as a contribution in kind, upon which the Company decides whether it accepts such offer, implements a capital increase from authorized capital and delivers shares of the Company or pays a cash amount.
In order to align with the standard market conversion process going forward, the conversion mechanism shall be revised. Specifically, conditional capital shall serve as underlying for the Bonds in the future.
Beside this, the economic terms of the Bonds (in particular the nominal amount, term, coupon, conditions for conversions incl. cash settlement) remain unchanged.
The voting of the bondholders will be carried out in accordance with the terms and conditions of the Bonds and the German Bond Act (Schuldverschreibungsgesetz). The request for voting will be published in the German Federal Gazette (Bundesanzeiger) in the coming days. The voting period is expected to be in mid-October.
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