Meyer Burger lanciert ein freiwilliges Incentive Offer, um Anleihegläubiger zur Wandlung der CHF 100 Mio. 5.5% Wandelanleihe 2020 bis am 5. Dezember 2017 16.00 Uhr MEZ einzuladen

Meyer Burger Technology AG (SIX Swiss Exchange: MBTN) hat heute bekanntgegeben, dass sie ein freiwilliges Incentive Offer (das „Incentive Offer“) an die Gläubiger der CHF 100 Mio. 5.5% Wandelanleihe der Gesellschaft, fällig in 2020, (die „Wandelanleihe”) lanciert. Die Wandelanleihe mit der ISIN Nummer CH0253445131 und dem Ticker-Symbol MBT14 wurde am 17. September 2014 emittiert und am 25. November 2016 mit Mehrheitsbeschluss der Gläubigerversammlung angepasst. Eine Annahme des Incentive Offer würde es Meyer Burger ermöglichen, zukünftige Zinszahlungen zu sparen und die entsprechende Verbindlichkeit frühzeitig in Eigenkapital umzuwandeln, ohne dass sich eine zusätzliche Verwässerung gegenüber einer Wandlung nach der nächsten Zinszahlung ergibt, die voraussichtlich basierend auf dem aktuellen Börsenkurs der Wandelanleihe und der Aktien von Meyer Burger eintreten würde.

 

Wie im offiziellen Angebotsdokument („Offer Document“) vom 27. November 2017 ausgeführt, bietet die Gesellschaft einen Incentive Betrag von CHF 250 in bar je CHF 5‘000 Nominalwert der Wandelanleihe an alle diejenigen Anleihegläubiger, die ihr Wandelrecht ausüben und ihre Anteile an der Wandelanleihe in Meyer Burger Namenaktien („Aktien“) zu dem nach Massgabe der Anleihebedingungen der Wandelanleihe („Anleihebedingungen“) aktuell gültigen Wandelpreis wandeln. Die Annahmefrist des Incentive Offer läuft ab heute bis am 5. Dezember 2017, um 16:00 Uhr MEZ.

 

Meyer Burger hat Credit Suisse als Transaktionsmanager des Incentive Offer mandatiert.  

 

Bedingungen des Incentive Offer

 

Wandlung der Wandelanleihe: Die Anteile der Wandelanleihe, für welche Anleihegläubiger das Incentive Offer annehmen, werden zum Wandelpreis von CHF 0.98 bzw. dem Wandelverhältnis von 5‘102.04082 Aktien je CHF 5‘000 Nominalwert der Wandelanleihe in Aktien gewandelt, wie in den Anleihebedingungen angegeben. Daraus resultiert eine maximale Anzahl von 102‘040‘816 neue Aktien, die ausgegeben werden.

 

Aufgelaufene Zinsen: Diejenigen Anleihegläubiger, die das Incentive Offer annehmen, erhalten keine aufgelaufenen Zinszahlungen.

 

Incentive Betrag in bar: Diejenigen Anleihegläubiger, die das Incentive Offer annehmen, erhalten eine Barzahlung von CHF 250 je CHF 5‘000 Nominalwert der Wandelanleihe.

 

Annahmefrist: Die Annahmefrist beginnt heute mit dieser öffentlichen Ankündigung und läuft bis zum 5. Dezember 2017 um 16:00 Uhr MEZ. Meyer Burger geht davon aus, das Ergebnis des Incentive Offer am 6. Dezember 2017 bis 07:30 Uhr MEZ bekannt geben zu können.

 

Settlement: Das Settlement des Incentive Offer, d.h. die Lieferung der Aktien und die Auszahlung des Barbetrags an diejenigen Anleihegläubiger, die das Incentive Offer angenommen haben, ist für den 11. Dezember 2017 vorgesehen.

 

Das Incentive Offer hat keinen Einfluss auf die Anleihebedingungen. Allerdings hat der Emittent gemäss Bedingung 5(b)(i) der Anleihebedingungen das Recht, sofern weniger als fünfzehn (15) Prozent des gesamten Nominalwertes der Anleihen noch ausstehend sind, alle restlichen Anteile der Wandelanleihe zurückzubezahlen.

 

THIS PRESS RELEASE IS NOT BEING ISSUED IN THE UNITED STATES OF AMERICA AND SHOULD NOT BE DISTRIBUTED DIRECTLY OR INDIRECTLY TO U.S. PERSONS OR PUBLICATIONS WITH A GENERAL CIRCULATION IN THE UNITED STATES OF AMERICA. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OR INVITATION TO SUBSCRIBE FOR, EXCHANGE OR PURCHASE ANY SECURITIES. IN ADDITION, THE SECURITIES OF MEYER BURGER TECHNOLOGY LTD HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES OF AMERICA SECURITIES LAWS.

 

This press release may contain specific forward-looking statements, e.g. statements including terms like "believe", assume", "expect", "forecast", "project", "may", "could", "might", "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward-looking statements. Meyer Burger Technology Ltd assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.

This press release serves informational purposes and constitutes neither an offer to sell nor a solicitation to buy any securities. This press release does not constitute an offering prospectus within the meaning of Article 652a of the Swiss Code of Obligations nor a listing prospectus within the meaning of the listing rules of SIX Swiss Exchange.

 

The information contained in this press release is for information purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. This press release does not contain or constitute or form part of, and should not be construed as, an offer or invitation to sell, or the solicitation of an offer to buy or subscribe for, any securities.

 

The distribution of this press release and the offer referred to herein may be restricted by law in certain jurisdictions as further set out in the Offer Document (“Distribution Restrictions”) and persons reading this press release should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

 

This press release is not for publication or distribution, directly or indirectly, in or into the United States of America, Australia, Canada or Japan or in any jurisdiction in which offers or sales of the securities referred to herein would be prohibited by applicable laws. The securities referred to herein have not been and will not be registered under the Securities Act, or the laws of any state within the United States of America or under the applicable securities laws of Australia, Canada or Japan, and may not be offered or sold in the United States of America, unless registered under the Securities Act or offered and sold in a transaction exempt from, or not subject to, the registration requirements of the Securities Act.

 

DISTRIBUTION RESTRICTIONS

This press release does not constitute an offer to buy or a solicitation of an offer to sell any Bonds or Shares in any jurisdiction or circumstances in which such offer or solicitation is unlawful.

The distribution of this press release in certain jurisdictions may be restricted by law.  Persons into whose possession this press release comes are required by the Issuer, the Dealer Manager, the Paying and Conversion Agent or the Depository Bank to inform themselves about, and to observe, any such restrictions.

 

United States

 

The Incentive Offer is not being made, and will not be made, directly or indirectly in or into, or by use of the mail of, or by any means or instrumentality of interstate or foreign commerce of or of any facilities of a national securities exchange of, the United States or to, or for the account or benefit of, U.S. persons as defined in Regulation S of the U.S. Securities Act of 1933, as amended (the “Securities Act”) (each, a “U.S. person”).  This includes, but is not limited to, facsimile transmission, electronic mail, telex, telephone, the internet and other forms of electronic communication.  The Incentive Offer may not be conducted by any such use, means, instrumentality or facility from or within the United States or by persons located or resident in the United States as defined in Regulation S of the Securities Act or to U.S. persons.  Accordingly, copies of the Offer Document and any other documents or materials relating to the Incentive Offer are not being, and must not be, directly or indirectly mailed or otherwise transmitted, distributed or forwarded (including, without limitation, by custodians, nominees or trustees) in or into the United States or to persons located or resident in the United States or to any U.S. persons.  Any Incentive Offer resulting, directly or indirectly, from a violation of these restrictions will be invalid and any purported Incentive Offer made by a U.S. person, a person located or resident in the United States or from within the United States or from any agent, fiduciary or other intermediary acting on a non discretionary basis for a principal giving instructions from within the United States or for a U.S. person will be invalid and will not be accepted.

 

Each Bondholder participating in the Incentive Offer will represent that it is not located in the United States and is not a U.S. person and is not participating in the Incentive Offer from the United States or it is acting on a non discretionary basis for a principal located outside the United States that is not giving an order to participate in the Incentive Offer from within the United States or on behalf of a U.S. person.  For the purposes of this and the above paragraph, “United States” means United States of America, its territories and possessions, any state of the United States of America and the District of Columbia.

 

United Kingdom

 

The communication of the Offer Document and any other documents or materials relating to the Incentive Offer is not being made, and such documents and/or materials have not been approved, by an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000, as amended (“FSMA”).  Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom.  The communication of such documents and/or materials is exempt from the restriction on financial promotions under section 21 of the FSMA on the basis that it is only directed at and may be communicated to (i) persons who have professional experience in matters relating to investments, being  investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”)); (ii)  persons who fall within Article 43(2) of the Order; or (iii) any other persons to whom these documents and/or materials may lawfully be sent under the Order. Any investment or investment activity to which the Offer Document relates is available only to such persons or will be engaged only with such persons and other persons should not rely on it.

 

Republic of Italy

 

Neither the Incentive Offer, the Offer Document nor any other documents or material relating to the Incentive Offer have been or will be submitted to the clearance procedure of the Commissione Nazionale per le Società e la Borsa (“CONSOB”), pursuant to applicable Italian laws and regulations.

In Italy, the Incentive Offer on each series of Bonds is being carried out as an exempted offer pursuant to article 101 bis, paragraph 3 bis, of Legislative Decree No. 58 of 24 February 1998, as amended and article 35 bis, paragraph 3 of CONSOB regulation No. 11971 of 14 May 1999, as amended.

Bondholders can acccept the Incentive Offer through authorised persons (such as investment firms, banks or financial intermediaries permitted to conduct such activities in the Republic of Italy in accordance with the Financial Services Act, CONSOB regulation No. 16190 of 29 October 2007, as amended from time to time, and Legislative Decree No. 385 of September 1, 1993, as amended) and in compliance with applicable laws and regulations or with requirements imposed by CONSOB or any other Italian authority.

Each intermediary must comply with the applicable laws and regulations concerning information duties vis à vis its clients in connection with the Bonds or the Offer Document.

 

Kingdom of Belgium

 

Neither the Offer Document nor any other documents or materials relating to the Incentive Offer have been submitted to or will be submitted for approval or recognition to the Financial Services Market Authority (Autoriteit voor Financiële Diensten en Markten / Autorité des services et marchés financiers) and, accordingly, the Incentive Offer may not be made in Belgium by way of a public offering, as defined in Article 3 of the Belgian Law of 1 April 2007 on public takeover bids or as defined in Article 3 of the Belgian Law of 16 June 2006 on the public offer of placement instruments and the admission to trading of placement instruments on regulated markets (each as amended).  Accordingly, the Incentive Offer may not be advertised and will not be extended, and neither the Offer Document nor any other documents or materials relating to the Incentive Offer (including any memorandum, information circular, brochure or any similar documents) has been or shall be distributed or made available, directly or indirectly, to any person in Belgium other than “qualified investors” in the sense of Article 10 of the Belgian Law of 16 June 2006 on the public offer of placement instruments and the admission to trading of placement instruments on regulated markets (as amended), acting on their own account.  Insofar as Belgium is concerned, the Offer Document has been issued only for the personal use of the above qualified investors and exclusively for the purpose of the Incentive Offer.  Accordingly, the information contained in the Offer Document may not be used for any other purpose or disclosed to any other person in Belgium.

 

Republic of France

 

Neither the Offer Document nor any other document, material or information relating to the Incentive Offer has been or will be submitted for clearance to the French Autorité des Marchés Financiers.

 

Consequently, the Incentive Offer is not being made, directly or indirectly, to the public in the Republic of France. Neither the Offer Document nor any other document, material or information relating to the Incentive Offer has been or shall be released, issued or distributed, or caused to be released, issued or distributed to the public in the Republic of France and only (i) providers of investment services relating to portfolio management for the account of third parties (personnes fournissant le service d’investissement de gestion de portefeuille pour compte de tiers) and/or (ii) qualified investors (investisseurs qualifiés) other than individuals, in each case acting for their own account and all as defined in, and in accordance with, Articles L.411 1, L.411 2 and D.411 1 of the French Code monétaire et financier, are eligible to participate in the Incentive Offer.