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Schaltbau Holding AG: Subscription period for Mandatory Convertible Bond begins on 1 April 2021

DGAP-News: Schaltbau Holding AG / Key word(s): Corporate Action Schaltbau Holding AG: Subscription period for Mandatory Convertible Bond begins on 1 April 2021 31.03.2021 / 09:00 The issuer is solely responsible for the content of this announcement. Schaltbau Holding AG: Subscription period for Mandatory Convertible Bond begins on 1 April 2021

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Subscription offer to shareholders of Schaltbau Holding AG for the Mandatory Convertible Bond 2021/2022 bearing interest at 0.5% p.a.

EUR 60 million total volume, 60,000 bonds at EUR 1,000 each

Subscription period from 1 to 16 April 2021, 12 noon (CEST)

Significant proportion of expected net issue proceeds of approximately EUR 57.4 million will support strategic expansion into new markets such as New Energy, New Industry and E-Mobility with construction of "NExT Factory"

 

Munich, 31 March 2021 - Schaltbau Holding AG (ISIN: DE000A2NBTL2) is offering its shareholders the opportunity to subscribe to the Mandatory Convertible Bond 2021/2022 (ISIN: DE000A3E5FV1) with a total volume of EUR 60 million from 1 to 16 April 2021, 12 noon (CEST). The bond, which bears interest at 0.5%, matures on 30 September 2022. In total, 60,000 bonds of EUR 1,000 each are being offered, which will be convertible into a total of up to 2,068,965 Schaltbau Holding AG shares at an initial conversion price of EUR 29.00 per share.

The majority (approx. 50-60%) of the expected net issue proceeds of around EUR 57.4 million will be used to finance the construction of the new production facility in Velden ("NExT Factory"), with which Schaltbau intends to drive forward its strategic expansion into new markets such as New Energy, New Industry and E-Mobility. The issue proceeds will also be used selectively to finance minor acquisitions in the areas of rolling stock and rail infrastructure in order to complement the Group's product portfolio and underpin profitable growth in these business areas (approx. 15-20%). In addition, Schaltbau intends to repay bank liabilities in order to bolster the balance sheet structure and provide greater flexibility for making strategic investments (approx. 25-30%). The placement of the bond is already fully secured by means of a pre-placement agreement with several groups of investors.