DGAP-Ad hoc: CargoLifter AG <CLA> english - 500 Beiträge pro Seite

[ad_hoc [wO]]

DGAP-Ad hoc: CargoLifter AG <CLA> english

CargoLifter issues subordinate convertible bond

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement.

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Management Board and Supervisory Board of CargoLifter AG determined the issue of a subordinate convertible bond with an issue volume of up to EUR 49.8 million and the issue conditions in their meetings today. The subordinate convertible bond is to be exclusively offered to shareholders of the company from April 3 to May 3, 2002. The subordinate convertible bond has a five year term. The 8.3 million bearer debentures are to be issued at a nominal value of EUR 6 and offered to shareholders at a ratio of 4:1. The coupon of the bond is 6%, interest is paid at the end of each year on April 2 to the bond creditor. The conversion to shares of CargoLifter AG can be effected anytime during the term of the subordinate bond after a waiting period of 12 months. The conversion price is EUR 6 per share and is subject to adjustment. The subordinate bond cannot be terminated by the company during its term. CargoLifter issues the subordinate convertible bond in the context of a necessary interim financing by the Summer of 2002.

end of ad-hoc-announcement (c)DGAP 28.03.2002

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WKN: 540261; ISIN: DE0005402614; Index: MDAX Listed: Amtlicher Handel in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart

Autor: DGAP import (),13:13 28.03.2002

[gr8stox]

My advice don´t sign the convertible bonds.