SHOP APOTHEKE EUROPE N.V. issued unsecured, non-subordinated convertible bonds on 12 April 2018 and on 10 April 2019. This instrument allows longer-term financing at attractive conditions and is an interesting investment opportunity for investors.
Under the terms of the bonds, the Company may redeem the convertible bonds at their principal amount (plus accrued interest not yet paid) at any time (i) on or after May 30, 2021 if the price of the Company's shares exceeds 130% of the then applicable conversion price during a specified period or (ii) if 15 % or less of the total principal amount of the convertible bonds is outstanding.
Unless previously repaid or purchased and cancelled, the convertible bonds will be converted into shares at the option of the holder. Instead of the delivery of shares, (partial) cash payment may also be made under certain conditions.