Birkeroed, Denmark, 2010-12-14 11:50 CET (GLOBE NEWSWIRE) -- Announcement No.29-2010
December 14 2010
Rest of Convertible loan to be converted
Consolidated Holdings A/S has informed the board of directors of Netop Solutions A/S of its intention to convert EUR 1,736,865 (c. DKK 12,947,460 million) of the EUR 2,500,000 (c. DKK 18.6 million) convertible loan, raised by Netop Solutions. See Announcement No. 11 of 27 April 2010.The conversion rate, defined in the debt instrument as the average price (All trades) of the company's shares during the three business days preceding the date of execution of the debt instrument (27 April 2010), has been calculated at DKK 8.54 per share in Netop Solutions A/S.Accordingly, nothing of the convertible loan remains outstanding.
Netop Solutions A/S will as soon as possible complete a capital increase for the amount of DKK 7,580,480 to be converted, equal to 1,516,096 shares.The capital increase will be made under the authority provided by Netop Solutions' articles of association.
Prior to the capital increase, Netop Solutions has a share capital of DKK 24,370,540 equal to 4,874,108 shares.Following the capital increase, Netop Solutions will have a share capital of DKK 31,951,020, equal to 6,390,204 shares.
Prior to the conversion, the holder of the convertible debt instrument, Consolidated Holdings A/S, holds a 39,8% stake in Netop Solutions, making it the largest single shareholder of Netop Solutions.The Chairman of Netop Solutions' board of directors, Ib Kunøe, has a controlling interest in Consolidated Holdings A/S.Following completion of the expected capital increase, Consolidated Holdings A/S' interest in Netop Solutions will exceed 54,1% of Netop Solutions' share capital.
Contact
Kurt Bager, CEO
Tel:+45 45 90 25 25
E-mail:kgb@netop.com
Netop Solutions A/S
Netop develops and sells software solutions enabling swift, stable and secure transfer of video, screen images, sound and data over the Internet.The company has three core business areas:Administration, Education and Communication. Netop's unique and cost-saving Administration solutions makes work easier for IT professionals through remote control and IT asset management.Netop's market-leading Education solutions for classroom management and corporate e-learning help students and teachers achieve optimum results through virtual teaching.Netop's Communication solutions allow customers, business partners and colleagues to meet easily and safely in virtual space through chat, video or voice over the Internet.Netop has about 140 employees and subsidiaries in the USA, the UK, Romania and Switzerland.The company sells its solutions to public and private sector customers in more than 80 countries.Netop Solutions A/S is listed on NASDAQ OMX Copenhagen.Netop generated revenue of DKK 85m in 2009.For more information, go to www.netop.com.
Translation In the event of any inconsistency between this document and the Danish language version, the Danish language version shall be the governing version.
Kurt Bager, CEO
Tel: +45 45 90 25 25
E-mail:kgb@netop.com
