Elis increases conversion ratio for Oceane due 2023 due to dividend

By Marisa Wong

Los Angeles, June 10 – Elis SA informed holders of its bonds convertible into new shares or exchangeable for new or existing shares (Oceane) due 2023 (ISIN FR0012435121) that it adjusted the initial conversion/exchange ratio, according to a Friday press release.

The exchange ratio was increased to 1.072 ordinary shares per 1 Oceane from 1 ordinary share per 1 Oceane.

The adjustment is effective from May 25, the ex-dividend date of a dividend distribution paid in capital account of €0.37 per share, The distribution was approved at a shareholders’ meeting held on May 19.

Elis is a Saint-Cloud, France-based provider of work uniforms and related services.

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