Readcrest Capital AG to Issue EUR 10 Million Convertible Bonds

Readcrest Capital AG has announced plans to issue convertible bonds totaling up to EUR 10 million, maturing in 2031. This decision, approved by the management and supervisory boards, excludes shareholder subscription rights. The convertible bonds, each valued at EUR 1,000, will either be convertible into new shares or redeemable in cash.

The company will issue the bonds at their principal amount, bearing an interest rate of 5% annually. If not converted or redeemed earlier, they will mature on 28 October 2031, redeeming at 125% of their principal plus accrued interest. The initial conversion price is set at EUR 3.00, representing a conversion premium of about 123.9% over the reference share price.

The proceeds from this bond issuance are intended for further investments. Readcrest Capital plans to list these bonds on the Hamburg Stock Exchange's open market.