QIAGEN Announces Adjustment of Conversion Ratio Under its 0.375% Senior Unsecured Convertible Notes due 2019 (ISIN XS1046477235)

Friday, January 27, 2017 Senior Health News
Email Print This Page Comment
Font : A-A+

Adjustment of conversion ratio under 0.375% Senior Unsecured Convertible Notes due 2019 due to reduction in number of shares outstanding and direct capital repayment to shareholders

VENLO, Netherlands, January 25, 2017 /PRNewswire/ --

QIAGEN N.V. (NASDAQ: QGEN; Frankfurt

Prime Standard: QIA) today announced the adjustment of the conversion ratio under its 0.375% Senior Unsecured Convertible Notes due 2019 (the "Notes"). The adjusted conversion ratio of 7,063.1647 (from previously 7,334.8249) became effective as of today, January 25 2017.

The conversion ratio was adjusted in accordance with the terms and conditions of the Notes to reflect the impact of a synthetic share repurchase, which combines a direct capital repayment with a reverse stock split. The synthetic share repurchase, which was announced in August 2016 and approved in October 2016 at an Extraordinary General Meeting of Shareholders, involves an approach used by various large, multinational Dutch companies as an efficient way to provide returns to all shareholders, and to do so in a faster and more efficient way than through a traditional open-market share repurchase program.

The terms of the synthetic share repurchase are as follows: every 27 issued QIAGEN shares have been consolidated into 26 QIAGEN shares at close of business on January 24, 2017 and following the implementation of the consolidation, the Company will issue to its shareholders a capital repayment of $1.04 per pre-split share held by each shareholder.

QIAGEN will fund the capital repayment from existing cash reserves and maintains its current non-rated, investment-grade credit profile.

Click here for the full press release

https://www.qiagen.com/about-us/press-releases/pressreleaseview?ID={DB421798-E981-4CE1-BD27-7D5C96FF6283}&lang=en

Contacts: QIAGEN Investor Relations         John Gilardi +49-2103-29-11711 e-mail: ir@QIAGEN.com                 Public Relations     Dr. Thomas Theuringer +49-2103-29-11826 e-mail: pr@QIAGEN.com    

SOURCE QIAGEN N.V.



Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store

Facebook