Zurich (awp) – Construction chemist Sika wants to increase conditional capital. An extraordinary general meeting is scheduled for January 25 so that shareholders can give their consent, the Zug company said on Wednesday.
By issuing new shares, the conditional capital would increase to 187,893.20 Swiss francs, corresponding to 18,789,320 registered shares with a registered value of 0.01 francs each. Currently, the conditional capital amounts to 155,893.20 Swiss francs.
The board’s request to increase the conditional capital comes in the context of two outstanding convertible loans. The first, with mandatory conversion, will be converted into securities from the existing conditional capital on January 30, 2022 while the second will expire on June 5, 2025. For this second product, only around 65% of the convertible bond is covered by the conditional capital. .
As of December 15, due to the increase in the price of the Sika share, already 15% of the holders of this second convertible loan had made the conversion and Sika expects other investors to do the same soon. In order to be able to provide the securities physically, the board of directors proposes to increase the conditional capital by 3.2 million securities.
If the shareholders agree, and the loan is converted in its entirety, the additional conditional capital will reach around 5% of the share capital, says Sika.
Due to the pandemic, the general assembly will be held online only.
ol / fr