HK RUOKATALO TO REPAY ITS CONVERTIBLE CA
HK Ruokatalo Oyj STOCK EXCHANGE BULLETIN 2 Jan. 2003, at 9am
HK RUOKATALO TO REPAY ITS CONVERTIBLE CAPITAL NOTE PREMATURELY
HK Ruokatalo has decided to repay its 1996 convertible capital note
prematurely. The note was originally due to mature at the end of 2006.
The company will inform note holders of its intention to repay the
note. Holders must notify the company by 29 January 2003 whether they
wish to convert their notes to HK Ruokatalo A Shares instead of
repayment.
On 30 December 1996, HK Ruokatalo Oyj issued a FIM 62.5 million (EUR
10.5 million) convertible capital note to professional investors. Each
of the 62,500 notes issued has a nominal value of FIM 1,000 (EUR
168.18793) and can be converted into forty (40) of the company's A
Shares each having a nominal value of EUR 1.70. To date, 9,442 notes
have been converted into shares.
The convertible capital loan was part of the company's capital
programme at the time and had a major stabilising effect on the HK
Ruokatalo's capital structure. Encouraging recent trends enable the
company to repay the loan now.
HK Ruokatalo Oyj
Simo Palokangas
Chief executive officer
DISTRIBUTION:
Helsinki Exchanges
Internet: www.hk-ruokatalo.fi