Tantalus Rare Earths AG: Convertible bond converted in shares
27.08.2013 | DGAP
- Convertible bonds with a total volume of EUR 4.7 million has been converted- Issuance of 235,000 new shares
Grünwald, 27 August 2013. Rights for the conversion into 235,000 name shares have been exercised in mid-August 2013 with regard to the 3%-Convertible Bond 2012/2016 (ISIN DE000A1R0VG7) issued by Tantalus Rare Earths AG in a total volume of EUR 4.7 million and divided into 235,000 non par-value bearer bonds at EUR 20.00 each.
The issued new shares are entitled to participate in profits as of the beginning of the financial year 2013, otherwise those shares are equal in form and arrangement to the name shares of Tantalus Rare Earths AG traded in the Entry Standard of Frankfurt Stock Exchange.
By conversion of the bonds into 235,000 new shares the number of shares of Tantalus Rare Earths AG increases to 2,599,370.
CEO Mr. Thomas Hoyer comments: We are very pleased by the decision of our convertible bond owners to convert the debt that they are holding into Tantalus shares. This is a great sign of confidence towards the Company and towards the prospects of the Tantalus shares. After the conversion Tantalus is in practice debt free.
Tantalus Rare Earths AG
Board of Directors
About Tantatalus Rare Earths AG:
TRE AG is a German holding company, which, through its subsidiary, holds a 100% interest in a rare earths exploration project in North West Madagascar. The shares of TRE AG are listed on the primary market of the Dusseldorf Stock Exchange.
Further inquiries:
Tantalus Rare Earths AG
Thomas Hoyer, CEO
Tel: 00 49 1512 401 7229
Thomas.hoyer@tre-ag.com