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TTS Group lowers conversion price of NOK 95.35 million convertibles
By Toni Weeks
San Diego, Oct. 18 - TTS Group ASA adjusted the conversion price of its NOK 95.35 million of convertible bonds to NOK 5.71 per share from NOK 8.44 per share, according to a notice.
The change will become effective on Oct. 26.
TTS said the adjustment reflects the repayment of capital approved at the company's general meeting on Aug. 15.
The company last adjusted the conversion price on Aug. 15, lowering it to NOK 8.4428 per share from NOK 9.2839 per share.
TTS Group is a Bergen, Norway-based company that designs, develops and supplies equipment for the marine and oil and gas industries.
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