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Link Theory calls zero-coupon convertibles due 2018; redemption date scheduled for May 29
By Angela McDaniels
Tacoma, Wash., April 28 - Link Theory Holdings Co., Ltd. will redeem all of its outstanding zero-coupon convertible bonds due 2018 at 104% of par on May 29, according to a company news release.
Meanwhile, the bonds remain convertible into Link Theory shares at a conversion price of ¥886,250. The company's shares closed at ¥166,000 (Tokyo: 3373) on Monday.
As previously reported, holders of ¥9.36 billion, or 91.67%, of the convertibles approved amendments needed in order to call the convertibles at a meeting on April 6.
Holders of ¥350 million of the convertibles have exercised their May 12 put option. The redemption will reduce the principal amount of convertibles outstanding to ¥10.35 billion from ¥10.70 billion.
Link Theory is a Tokyo-based based fashion retailer.
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