11 June 2013 17:19
Price Sensitive extraordinary operations

Adjustment of the conversion price of the convertible bond

Following the press release published on 16 May 2013 in connection with the adjustment of the conversion price of the convertible bond “EUR 230,000,000 3.50 per cent. Convertible Bonds due 2013” from Euro 2.7257 to Euro 2.7139, it should be noted that such adjustment is not directly applicable to bondholders pursuant to Article 6(g) of the Terms and Conditions of the bonds. Pursuant to such provision, no adjustment shall be made to the conversion price where such adjustment would be less than one per cent. of the conversion price then in effect. Therefore, pursuant the aforementioned provision, the conversion price applicable to the holders of the convertible bond “EUR 230,000,000 3.50 per cent.Convertible Bonds due 2013” is equal to Euro 2.7257.

Pursuant to Article 6(g) of the Terms and Conditions of the bonds, the adjustment made in connection with the decisions of the Board of Directors held on 16 May 2013 shall be taken into account in the context of future adjustments in order to determine the new conversion price.