MIG HOLDINGS S.A.
Press Release
MIG hereby announces that on 8/2/2010 the Board of Directors of the Hellenic Capital Market Committee (HCMC) approved the Prospectus for the issuance of the convertible bond loan of MIG of a total amount of 402.8 million euro. The nominal value and placement price of each bond will amount to 4.77 euro. Existing shareholders will have a pre-emption right with a ratio of 1 bond for every 9 shares of MIG. The Athens Exchange at its meeting of the same date (8/2/2010) approved the listing of the pre-emption rights of the bond loan on ASE. The rights cut-off date will be 11/2/2010. The rights trading period will be from 18/2/2010 to 26/2/2010, while the rights exercise period will be from 18/2/2010 to 4/3/2010.
The bond loan will have a term of 5 years. The coupon will be 5% per annum, while in the case of repayment at expiry of the bond loan term there will be an additional return equal to 10% to the bond holders. The bond holders will have the right to convert their bonds into shares on a quarterly basis. Furthermore, MIG will maintain the right of early repayment on an annual basis.
The conversion price of the bonds will be 10% higher than the average price of the Company's share price during the 5 trading days prior to the first day of trading of the bond loan on the Athens Exchange, which is expected to take place near the middle of March. Given the current financial crisis, MIG considers that the terms of the bond loan, including the conversion terms will make the bond loan particularly attractive to the investors.
It is hereby reminded that the Prospectus will be available from 9/2/2010 in electronic form in the websites of ASE (www.ase.gr), HCMC (www.hcmc.gr) and MIG (www.marfininvestmentgroup.gr), while from 16/2/2010 it will be available in printed form in the head office of MIG at 24, Kifissias avenue, 15125 Maroussi, and all branches of MARFIN EGNATIA BANK S.A.
For further information or any clarification, shareholders may address their questions during working days and hours to the Shareholders' Department of MIG (Mrs Spanaki - Mr. Sgagias, tel. +30 210 77 10 053, +30 210 77 10 383).
The bond loan will have a term of 5 years. The coupon will be 5% per annum, while in the case of repayment at expiry of the bond loan term there will be an additional return equal to 10% to the bond holders. The bond holders will have the right to convert their bonds into shares on a quarterly basis. Furthermore, MIG will maintain the right of early repayment on an annual basis.
The conversion price of the bonds will be 10% higher than the average price of the Company's share price during the 5 trading days prior to the first day of trading of the bond loan on the Athens Exchange, which is expected to take place near the middle of March. Given the current financial crisis, MIG considers that the terms of the bond loan, including the conversion terms will make the bond loan particularly attractive to the investors.
It is hereby reminded that the Prospectus will be available from 9/2/2010 in electronic form in the websites of ASE (www.ase.gr), HCMC (www.hcmc.gr) and MIG (www.marfininvestmentgroup.gr), while from 16/2/2010 it will be available in printed form in the head office of MIG at 24, Kifissias avenue, 15125 Maroussi, and all branches of MARFIN EGNATIA BANK S.A.
For further information or any clarification, shareholders may address their questions during working days and hours to the Shareholders' Department of MIG (Mrs Spanaki - Mr. Sgagias, tel. +30 210 77 10 053, +30 210 77 10 383).