Silic adjusts conversion ratio for Ornane bonds issued in 2010

By Toni Weeks

San Diego, June 27 - SA Silic announced that the conversion ratio for its convertible bonds issued on Nov. 3, 2010 has been adjusted to 1.12 shares from 1.05 share per Ornane bond.

The update follows the approval of a dividend payment at the June 22 meeting.

The company also said the conversion rate of the Ornanes has been temporarily adjusted to 1.38 Silic share per Ornane from 1.29 Silic share per Ornane for the duration of the company's existing tender offer. The conversion rate was also temporarily adjusted to 1.29 from 1.05 on April 27 because of the tender offer.

Silic, based in Nanterre, France, owns Paris-area business parks. The company's stock (EPA: SIL) closed at €72.54 apiece on June 26.

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