Activa Resources redeems two corporate bonds
Activa Resources redeems two corporate bonds
- EUR 2.15 million redeemed at maturity on 4th December 2014
- 40% of 2011/2014 convertible bond has been converted since issue date
- 2014 conversions result in increase in nominal capital from EUR 5.20 million to EUR 5.47 million
- EUR 3.48 million currently outstanding in 2013/2017 bond
Bad Homburg, 5. December 2014. Activa Resources AG, an independent oil and gas producer, has redeemed two maturing bonds totalling EUR 2.15 million on 4th December 2014, comprising an outstanding amount of EUR 0.39 million of the 8% corporate bond 2010/2014 and EUR 1.76 million of the 8% convertible bond 2011/2014. In addition, Activa bought EUR 0.35 million in the bonds prior to maturity through market purchases.
Since the 2011 issuance of the convertible bond approx. EUR 1.25 million or 40% of the original issue amount have been converted into 0.63 million new shares at EUR 2 per share.
Activa's nominal share capital will rise from EUR 5.20 million to EUR 5.47 million (5.47 million shares outstanding) as a result of bond conversions in 2014. The increase will be recorded with the Bad Homburg corporate register in due course. The bond redemption was financed via private placements of the Activa Resources AG 8% corporate bond 2013/2017 and the company's credit facilities.
Following the redemption of the two bonds the only outstanding Activa Resources AG bond is the aforementioned 2013/2017 bond, whose volume now stands at EUR 3.48 million. The bond can be increased to EUR 5 million.
The Management Board
About Activa Resources AG
Activa Resources AG is an independent oil and gas company which focuses on the acquisition, development and exploitation of oil and natural gas properties. Activa Resources AG is listed on the Frankfurt stock exchange and is based in Bad Homburg, Germany. The company's management and technical team comprise oil industry experts with many years operational experience at major international oil companies. Further information can be found at www.activaresources.com.
Forward-looking statements
This news release includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning estimates of expected drilling and development wells and associated costs, statements relating to estimates of, and increases in, production, cash flows and values and other statements which are not historical facts. When used in this document, the words such as "could," "plan," "estimate", "expect", "intend", "may", "potential", "should" and similar expressions are forward-looking statements. Although Activa believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that the Company's projects will experience technological and mechanical problems, that geological conditions in the reservoir may not result in commercial levels of oil and gas production, that changes in product prices can have a material impact and that Activa fails to raise sufficient capital to adequately fund its activities.
Company contact Investor Relations contact
Activa Resources AG GFEI Aktiengesellschaft
Hessenring 107 Am Hauptbahnhof 6
61348 Bad Homburg 60329 Frankfurt
Germany Germany
www.activaresources.com www.gfei.de
Phone: +49 (0)6172-483 2352 Phone: +49 (0)69-7430 3700
FAX: +49 (0)6172-483 2353 FAX: +49 (0)69-7430 3722
lah@activaresources.com activa-resources@gfei.de
