MediGene converts all outstanding 4% convertible bonds

By Sheri Kasprzak

New York, Dec. 15 - MediGene AG said it is forcing the conversion of all of its outstanding 4% convertible bonds.

The company will convert the bonds into common share at a ratio of 7.5 to 1, generating up to 199,980 new shares.

MediGene had issued the 1.5 million convertible bonds at €1.00 each in March 2004.

The conversion price of the offering was adjusted in November 2004 to €7.4783 from €7.50.

Based in Martinsried, Germany, MediGene develops pharmaceuticals to treat cancer and cardiovascular ailments.

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