EANS-Adhoc: ESCADA AG: Exchange offer to bond holders attains 37% acceptance quota by July 14, 2009 - cash payment prolonged until the end of the exchange period

-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Restructuring 14.07.2009 Munich, July 14, 2009 - According to preliminary calculations ESCADA AG's public exchange offer to the holders of the 2005/2012 bond has attained an acceptance quota of 37% referenced to the total nominal value of 200 million euros by July 14, 2009. The offer extends from June 29, 2009 through to the end of July 31, 2009 and provides for a minimum acceptance quota of 80%. ESCADA AG today decided to extend the cash component until the end of the exchange period. Consequently, all bondholders who exchange their old bonds by the end of the exchange period on July 31, 2009 will receive a cash payment of 25 euros for every 1,000 euros in nominal value of the old bond tendered. Initially the cash payment was to be granted only to those holders who had tendered their old bonds for exchange by July 14, 2009 (the early tender deadline). The early tender deadline will now coincide with the expiration of the exchange offer. With this step ESCADA AG is mainly taking into account the fact that some of the bondholders located in many countries of the world only belatedly received the necessary information required to exchange their bonds. These bondholders will be given adequate time to carefully consider the offer without having to suffer any economic drawbacks. ESCADA AG will make available the corresponding supplement to the prospectus published on June 26, 2009 immediately after its approval by German regulators on the websites and As part of the Group's ongoing financial restructuring, ESCADA AG is offering the holders of its existing bond (with a total nominal value of 200 million euros) the chance to exchange the old bond for a combination of two new bonds. Taken together with the cash component, the nominal exchange value amounts to 400 euros for every 1,000 euros in nominal value of the old bond. Thus the offer is 36% higher than the trading price of the old bond prior to the announcement of the exchange offer on June 26, 2009. The new bonds also carry a significantly higher interest rate than the old bond. end of announcement euro adhoc -------------------------------------------------------------------------------- ots Originaltext: ESCADA AG Im Internet recherchierbar: Further inquiry note: Investor Relations Yara Kes Tel.: +49 (0) 89 9944 1336 Email: Presse: Frank Elsner Kommunikation für Unternehmen GmbH Frank Elsner Tel.: +49 - 54 04 - 91 92 0 Email: Bond holders: Thomson Reuters Melina Bobbio, Ellis Farrell Info-Hotline Germany: +49 69 7565 1010 Info-Hotline United Kingdom: +44 207 542 -9013 / -8775 Email: Website: Not for release, publication or distribution in the United States, Australia, Italy, Canada or Japan. This information does not constitute a prospectus. The exchange offer in Germany is made exclusively on the basis of the prospectus, which contains the information for investors required under statutory provisions and which is available on the websites of ESCADA AG ( and the information agent Thomson Reuters (; print copies may be requested free of charge from ESCADA AG (Einsteinring 14-18, 85609 Aschheim/Munich, Germany). The prospectus prepared for the planned subscription offer will be published with the start of the subscription period in Germany and will then be available free of charge from ESCADA AG (Einsteinring 14-18, 85609 Aschheim/Munich, Germany). This press release is not an offer for sale of securities in the United States. Securities may not be sold in the United States absent registration with the United States Securities and Exchange Commission or an exemption from registration under the U.S. Securities Act of 1933, as amended. ESCADA AG does not intend to register any part of any offering in the United States or to conduct any public offering of securities in the United States. This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. The exchange offer is not extended to any persons (natural or legal) resident in the Republic of Italy. The exchange offer is not being made, directly or indirectly, in the Republic of Italy. The exchange offer and the prospectus has not been submitted to the clearance procedure of the Commissione Nationale per le Societa e la Borsa ("CONSOB") pursuant to Italian laws and regulations. Accordingly, neither the prospectus, this press release nor any other documents or materials relating to the exchange offer or the securities may be distributed or made available in the Republic of Italy. Branche: Clothing ISIN: DE0005692107 WKN: 569210 Index: CDAX, Classic All Share, Prime All Share Börsen: Berlin / Open Market Hamburg / Open Market Stuttgart / Open Market Düsseldorf / Open Market Frankfurt / regulated dealing/prime standard München / regulated dealing

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