In January 2019, Sika AG has issued a subordinated mandatory convertible note listed on the SIX Swiss Exchange (security no.: 45‘929‘742, ISIN: CH0459297427, ticker: SIK19) with a total outstanding nominal amount of CHF 1,300,000,000.

Principal
Amount
 
Current
Conversion
Ratio
 
Current
Conversion
Price
 
Maturity
Date
 
Interest  
Nominal value
of CHF 200,000
each
Minimum
1,367.5214
Maximum
CHF 130.00
30.1.2022 3.75% payable
annually
on January 30
  Maximum
1,538.4615
Minimum
CHF 146.25
   

The notes will be mandatorily converted into new or existing registered shares of Sika AG at maturity. The respective number of registered shares of the company to be delivered upon mandatory conversion of the notes correspond to 7.05% of the outstanding registered shares (based on the minimum conversion price of CHF 130.00). Subject to the occurrence of extraordinary events that could lead to an early mandatory conversion, the conversion period for noteholders begins on July 1, 2021. Sika may, at its sole discretion, elect to defer (in whole or in part) any payment of interest on the notes.

 

Additional material changes having occurred between the balance sheet date (December 31, 2018) and the editorial deadline for the Annual Report are referenced on page 135 of the download version of this report (available at https://www.sika.com/ en/group/Publications/annual_reports01.html).