Recticel adjusts conversion price on €57.5 million of 5% convertibles

By Tali Rackner

Norfolk, Va., June 13 – Recticel SA/NV adjusted the conversion price on its €57.5 million of 5% convertible bonds due 2017, according to a press release.

The adjustment, effective May 31, was made as a result of a dividend paid on June 3.

The new conversion price was adjusted to €11.81 per ordinary share.

The maximum amount of new ordinary shares that would be issued if all bonds were converted is now 4,868,755, the release said.

Recticel is a Brussels-based maker of polyurethane foam used in bedding, insulation and other products.

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