Voestalpine AG to Utilize Treasury Shares for Convertible Bonds

voestalpine AG has announced a resolution by its Management Board to use treasury shares to fulfill subscription rights for its 2023 convertible bonds. These bonds, issued on April 28, 2023, amount to EUR 250 million and will mature on April 28, 2028. Holders of the bonds can convert them into company shares, a process the board will support using treasury shares.

A share buyback program conducted between November 2022 and July 2023 resulted in the company holding 7,098,547 treasury shares, representing 3.98% of its share capital. An estimated 6,174,760 shares are required to cover all conversion rights based on a conversion price of approximately EUR 40.49.

The decision aligns with voestalpine's obligation to comply with Austrian Stock Corporation Act requirements, emphasizing transparency and shareholder rights.