Company
ALLSCHWIL, SWITZERLAND –18 January 2007 – Actelion Ltd. (SWX:ATLN) announces today that it is exercising its right to call for an early redemption of the Senior Unsecured Zero Coupon Convertible Bonds due 15 October 2008 issued by Actelion Finance SCA, Luxembourg. The redemption date will be 19 February 2007.
Of the originally issued CHF 143.75 million, bonds in an aggregate principal amount of CHF 143.74 million are currently outstanding. Based on the terms of the bonds, the redemption price will be CHF 5,839.48 per CHF 5,000 principal amount of bonds (being 116.7896% of such principal amount).
In view of the current price of the registered shares of Actelion, the Issuer anticipates that the convertible bondholders will elect to convert their bonds into shares. The bonds are convertible into 32.59452 shares for each CHF 5,000 principal amount of bonds. The closing price of Actelion Ltd registered shares on the SWX Swiss Exchange on 18 January 2007 was CHF 278.00. Bondholders may elect to convert the bonds into Shares at any time until 12 February 2007, 16.00 CET. If no request for a conversion is made, repayment will take place on 19 February 2007.
In order to limit the dilutive effect of the expected conversions, the company intends, depending on market conditions, to continue until April 2007 to repurchase up to CHF 48 million worth of shares or to buy back some of its outstanding convertible bonds. Such repurchases will be carried out under applicable law in on- or off-market transactions.
Approximately 937’000 new shares out of conditional capital would be issued if all currently outstanding bonds were converted.
Actelion Ltd
Actelion Ltd is a biopharmaceutical company with its corporate headquarters in Allschwil/Basel, Switzerland. Actelion's first drug Tracleer®, an orally available dual endothelin receptor antagonist, has been approved as a therapy for pulmonary arterial hypertension. Actelion markets Tracleer® through its own subsidiaries in key markets worldwide, including the United States (based in South San Francisco), the European Union, Japan as well as Canada, Australia and Switzerland. Actelion, founded in late 1997, is a leading player in innovative science related to the endothelium – the single layer of cells separating every blood vessel from the blood stream. Actelion focuses on the discovery, development and marketing of innovative drugs for significant unmet medical needs. Actelion shares are traded on the SWX Swiss Exchange (ticker symbol: ATLN).
For further information please contact:
Actelion Ltd, Gewerbestrasse 16, CH-4123 Allschwil
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Investor Contact | Roland Haefeli | +41 61 565 64 58 |
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| +1 650 624 6936 |
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