AMA Group adjusts conversion price of 4% notes due to equity raise

By Mary-Katherine Stinson

Lexington, Ky., Sept. 7 – AMA Group Ltd. adjusted the conversion price of its A$50 million 4% senior convertible notes due 2027 (ISIN: XS2386304799), according to a notice.

The conversion price following the adjustment will be A$0.3910, effective Sept. 8.

According to the notes’ terms, the issuer may adjust the conversion price ahead of a potential placement and entitlement offer.

As announced on Sept. 7, the equity raise will be conducted as a combination of an institutional placement, comprising an unconditional component and a conditional component requiring the approval of shareholders, and a retail entitlement offer to existing shareholders.

Bank of New York, London Branch is the trustee.

AMA Group, formerly Allomak Ltd., is a West Perth, Australia-based automotive services company.

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