Biofrontera AG / / Ad hoc: Biofrontera AG emits new partial debentures of its 5% option bond 2011/2016 . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.
Leverkusen, 07 December 2011 -
Based on the authorization granted by the annual general meeting of 10 May 2011, the board of directors of Biofrontera AG (the "Company"), with the approval of the supervisory board, resolved on 7 June 2011, to issue an option bond 2011/2016 (DE000A1KQ9Q9; the "Option Bond"), divided into partial debentures (the "Option Partial Debentures"). The Option Bond was offered in the context of a subscription offer to the shareholders of the Company in June/July 2011 for subscription and in the context of an exchange offer to the creditors of the 8 %-convertible bond 2005/2012 (ISIN DE000A0E9649) (its Partial Debentures the "Convertible Partial Debentures") for exchange.
The Company resolved on November 16, 2011, to offer remaining Partial Debentures to the shareholders for subscription again. In addition, Partial Debentures were again offered for exchange against Convertible Partial Debentures. For details see ad-hoc news release of November 16, 2011.
According to today's analysis, further Partial Debentures with a nominal value of TEUR 3,195 were subscribed to. These new Partial Debentures do not include subscriptions of the ongoing private placement. According to the knowledge of the company this reduced the outstanding Convertible Partial Debentures to a nominal value of TEUR 3,687.
In accordance with the terms and conditions of the convertible bond of 2005/2012, the Company has the right to terminate the Convertible Partial Debentures as a whole in the case that the total nominal amount of the outstanding Convertible Partial Debentures is less than 25% of the total nominal amount of the Convertible Partial Debentures, i.e. TEUR 5,000. This requirement is now fulfilled.
The company intends to make use of the option to prematurely return the remaining Convertible Partial Debentures, i.e. to pay the Convertible Partial Debentures back at 100% (instead of the 120% that include the capital surplus for payback at final maturity).
The completion of the transaction has thus substantially and successfully reduced the short-term liabilities and contributed to an additional improvement of the company's financial structure.
Biofrontera AG, Hemmelrather Weg 201, 51377 Leverkusen
ISIN: DE0006046113
WKN: 604611
Contact:
Werner Pehlemann
Biofrontera AG
Tel.: +49 (0214) 87 63 20, Fax.: +49 (0214) 87 63 290
E-mail: w.pehlemann@biofrontera.com (mailto:w.pehlemann@biofrontera.com)
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Biofrontera AG via Thomson Reuters ONE
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Biofrontera AG
Hemmelrather Weg 201 Leverkusen Germany
WKN: 604611;ISIN: DE0006046113;
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Börse Berlin,
Open Market (Freiverkehr) in Frankfurter Wertpapierbörse,
Freiverkehr in Bayerische Börse München,
Regulierter Markt in Börse Düsseldorf;
