- Issue of Convertible Bond 3,000,000.00 EUR with a term until 2023
- Debt to Equity Conversion of 1,270,000.00 EUR liabilities
UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn is issuing a con-vertible bond in the amount of 3.0 mn EUR. The total volume was successfully placed with institutional investors. The convertible bond has a term until the end of 2023 and an interest coupon of 6%. The funds will be used to refinance an existing bond in the same amount. The interest expense will be reduced.
The convertible bond can be converted into new ordinary bearer shares whereas 1,000 shares with a calculated nominal value of 1.00 EUR per share will be issued for each 1,000.00 EUR bond.
To strengthen the capital base, an existing liability of 1.27 mn EUR will be converted into equity by issuing 792,410 new shares with a calculated nominal value of EUR 1.00 per share. The new share capital is 15,240,000.00 EUR. The resolutions have been passed and approved. The capital increase will be completed in the first quarter of 2021.
Contact:
UET United Electronic Technology AG
Frankfurter Straße 80-82
D-65760 Eschborn
Investor Relations
Sebastian Schubert
Tel: + 49 (0) 6196 777755-0
E-Mail: investor@uet-group.com