Schaltbau to call bonds on April 12; holders may convert thereafter

By Susanna Moon

Chicago, March 10 - Schaltbau Holding AG said it is terminating its convertible bonds due 2012, effective April 12.

After the termination date, holders may exercise their conversion right. The conversion can be declared at any time up to and including May 6.

The conversion price is to €45.80 due to a special dividend of €0.20 per share paid to shareholders for fiscal year 2009.

The company's stock (ETR: SLT) closed at €65.01 per share on March 9.

Bondholders who do not exercise their conversion right will receive the nominal value of the convertibles on the optional redemption date of May 9.

Holders also will receive interest up to and including the day before the optional redemption date.

Clearstream Banking AG (e-mailcf@quirinbank.de) is the conversion agent.

Holders who wish to exercise their conversion right are requested to contact their custodian bank.

The bonds were issued in 2007.

Schaltbau is a Munich -based company that develops and manufactures components for transportation technology and for the investment goods industry.

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