TTS Group adjusts conversion price on 8% callable convertibles

By Tali David

Minneapolis, June 11 - TTS Group ASA is adjusting the conversion price on its 8% convertible callable subordinated bond issue to NOK 4.97 per share, according to a notice from trustee Norsk Tillitsmann ASA.

The adjustment, which became effective on June 11, reflects its dividend payment of NOK 1 per share to its shareholders.

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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