TTS Group lowers conversion price of NOK 95.35 million convertibles

By Tali David

Minneapolis, Aug. 15 - TTS Group ASA adjusted the conversion price of its NOK 95.35 million of convertible bonds to NOK 8.4428 per share from NOK 9.2839 per share, according to a notice.

The change became effective on Wednesday.

TTS said the adjustment reflects an extraordinary dividend payment approved at the company's general meeting on Wednesday.

Further adjustment for a repayment of capital resolved at the general meeting will be calculated and implemented upon the implementation of such payment.

TTS Group is a Bergen, Norway-based company that designs, develops and supplies equipment for the marine and oil and gas industries.

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