LB Icon to redeem €17.25 million 7% convertibles

By Angela McDaniels

Seattle, March 3 - LB Icon AB will redeem the €17.25 million outstanding of its 7% convertible bonds due 2008 on April 5, according to a company news release.

The company will pay a redemption amount equal to 105% of the principal amount plus accrued interest.

Bondholders may convert the bonds up to and including March 29. The conversion price is €4.40 per share.

Shares of the company (Amsterdam: ICON) closed Friday at €5.89.

LB Icon has headquarters in Amsterdam, the Netherlands, and Stockholm, Sweden, and provides internet consulting and web services.

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