GÖTEBORG, Sweden--(BUSINESS WIRE)--Regulatory News:
In line with the decision of the annual general meeting on May 11, 2016 Capio is now issuing five year convertible debenture loans in SEK and EUR as part of the long-term incentive program to employees. The offer to subscribe for convertible bonds was granted to all employees in the Capio Group.
In total 728 employees signed up for a total amount of MSEK 155.
The president and CEO Thomas Berglund comments: ”It is very reassuring that so many of our employees have chosen to participate in the program. This demonstrates a strong belief in Capio’s long-term ambitions and capability to improve healthcare in Sweden and continental Europe.”
The chairman of the Board of Directors Anders Narvinger comments: ”Capio’s success as a healthcare provider is dependent on its employees, why the Board of Directors note with great satisfaction that so many employees have decided to invest in the future development of the Group.”
The convertible debenture loans issued by Capio AB (publ) on market terms are subordinated to other lines of debt and are in total amounting to MSEK 155, divided into one loan in SEK amounting to MSEK 134 directed to employees in Sweden and Norway and two loans in EUR amounting to kEUR 1,904 and kEUR 337 respectively, directed to employees in France and Germany. The loans run from July 8, 2016 and mature on August 31, 2021 unless conversion has taken place before the maturity date. Conversion to shares in Capio can be done between July 25 and August 15, 2021.
The conversion price, that in accordance with the decision of the annual general meeting was set to 120% of the average share price for the Capio share during the period from May 11 to May 18, 2016, is 52.86 SEK per share and 5.66 EUR per share respectively. At full conversion 2,933,727 new shares will be issued in Capio AB (publ), which corresponds to a maximum dilution of 2.08%.
The convertible loan in SEK pays a market interest based on 3 month STIBOR plus a margin of 5.23%, which gives a calculated interest rate of 4.77% for the initial three months. The convertible loans in EUR pay a fixed market rate of 4.54% during the entire five year period. The convertible bonds will not be subject to listing or trading at any market place.
Capio AB (publ) is a leading, pan-European healthcare provider offering a broad range of high quality medical, surgical and psychiatric healthcare services in four countries through its hospitals, specialist clinics and primary care units. In 2015, Capio’s 12,360 employees provided healthcare services during 4.6 million patient visits across the Group’s facilities in Sweden, Norway, France and Germany, generating net sales of MSEK 13,486. Capio operates across three geographic segments: Nordic (54 percent of Group net sales 2015), France (38 percent of Group net sales 2015) and Germany (8 percent of Group net sales 2015). For more information about Capio, please see www.capio.com.
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