FirstFarms A/S offers prolongation of existing convertible bonds and issuance of new convertible bonds

FirstFarms A/S offers a prolongation of the convertible bonds issued according to authorisation obtained on the extraordinary general meeting 28 October 2013, cf. company announcement no. 21/2013 and 22/2013 and prolongation cf. company announcement nr. 22/2015 and 27/2015. The company also offers issuance of new convertible bonds for up to DKK 50 million according to the authorisation in item 5.6 in the Articles of Association.

The purpose of above mentioned offer is an on-going supplement of the company's cash resources and thereby potential to utilise possible expansions and adjustment according to the strategy - this in a combination with other sources of financing.

Prolongation of existing convertible bonds
Along with the offer for prolongation of the convertible bonds, all bond owners, who previously have submitted pledge about conversion with effect from 2 January 2017, cp. company announcement no. 22/2015, are exempted form previous commitment. If you want to maintain the pledge about conversion, it is done on unchanged terms.

In addition to the above mentioned offer for prolongation, all bond owners will also get the possibility to submit pledge about conversion with effect from 1 October 2018 and thereby obtain a conversion premium of 0.5 % of the principal amount, if they choose to give information about conversion of the bond into shares.

If the possibility for prolongation is not utilised, the bond can still be converted with effect form 2 January 2017 in accordance to the original loan terms; alternatively just expire ordinary 15 March 2017 with repayment.

FirstFarms will forward letter directly to the individual bond owners with an offer for prolongation, for which deadline is scheduled to 29 June 2016.

New convertible bonds
In connection with issuance of new convertible bonds, the conversion price is determined to 45.97 in accordance with the authorisation and the terms of the convertible bond, which is attached to this company announcement.  The bonds are not subject to rules of the prospectus and are not traded on a regulated market.

The deadline of the subscription period for the new bonds is scheduled to 6th July 2016 at 11.59 pm. Interested parties shall forward the attached binding subscription form to the following mail address: tit@firstfarms.com

The interested parties will immediately after the above mentioned deadline of the subscription period receive the convertible bond for signature, and the deadline for payment of the subscription amount is scheduled to 13th July 2016.

Billund, 15 June 2016           

FirstFarms A/S

For further information:
Please visit our website www.firstfarms.com or
contact CEO Anders H. Nørgaard on telephone +45 75 86 87 87.

Subscription form 2016 (UK)
(7) Offer for prolongation_new conv bond (UK)
Convertible bond 2016 (UK)


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: FirstFarms A/S via Globenewswire
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