Publicis Groupe's Oceanes holders put 62% of bonds

By Jennifer Chiou

New York, Jan. 26 - Publicis Groupe SA said on Jan. 18 holders of €49 million or 62% of its 1% convertible bonds due 2018 in the Oceanes structure opted to put their securities.

The option was exercised at a price of €42.0056.

The Paris communications company said the exercise further reduced potential dilution to 5,484,334 shares and simplified its balance sheet. The company eliminated the potential creation of 1.1 million shares.

Following settlement of the put, there will be €262 million of the Oceanes outstanding for a dilution of 6.7 million shares.

In January 2005, Publicis reduced the number of potential shares to 6.6 million after an exercised put option for 62% of the nominal amount.

The Oceanes have puts on Jan. 18, 2010 and 2014.

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