Aap Implantate AG Proposes Early Conversion Rights for Bondholders

aap Implantate AG announced a proposal for the bondholders of its mandatory convertible bond 2023/2028 to amend the bond terms, allowing earlier exercise of the conversion rights. This proposal aims to remove the current waiting period for bondholders wishing to convert their bonds into shares, initially set to begin on October 17, 2024. Instead, the new amendment will enable an earlier conversion right exercise period starting fourteen days before May 31, 2024.

The company stated that the bondholders could cast their votes on this proposal from March 26, 2024, to March 28, 2024, with details to be published in the Federal Gazette and on the company's website under the "Investors/Convertible Bond" section. This move is aimed at providing bondholders with more flexibility in managing their investments in the company’s bonds traded on the Frankfurt Stock Exchange's open market.