SCOR SE : Contingent Capital: SCOR issues shares to UBS
07/06/2011| 02:55am US/Eastern
06 July 2011
For further information, please contact:
Jean-Charles Simon / Géraldine Fontaine +33 (0) 1 46 98 73 17
Communication and Public Affairs
Antonio Moretti +44 (0) 203 207 85 62
Investor Relations Director
Contingent Capital: SCOR issues shares to UBS
Further to the drawdown, announced on July 5, 2011, by SCOR of EUR 75,000,000 on the contingent capital facility placed at its disposal by UBS, UBS has exercised the number of warrants required for the issuance and subscription by it of new SCOR shares in an aggregate amount of EUR 75,000,000 and has informed SCOR that it has placed the corresponding shares with investors in a private placement.
Accordingly, SCOR will issue 4,250,962 new ordinary shares on July 11, 2011, at an issuance price of EUR 17.643 per share (being the exercise price of the warrants). These shares will be subscribed for in full by UBS, admitted to trading on the Euronext Paris regulated market immediately following their issuance and will be fully fungible with the existing SCOR ordinary shares.
The percentage interest of a shareholder with 1% of the share capital:
#_ftn1 prior to the issuance is now 0.978%.
No public offering
This announcement is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities and the transactions contemplated herein do not constitute a public offering in any jurisdiction, including France. Release, publication or distribution of this press release is forbidden in any country where it would violate applicable laws or regulations.
SCOR does not communicate "profit forecasts" in the sense of Article 2 of (EC) Regulation n°809/2004 of the European Commission. Thus, any forward-.looking statements contained in this communication should not be held as corresponding to such profit forecasts. Information in this communication may include "forward-looking statements", including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions and include any statement which does not directly relate to a historical fact or current fact. Forward-looking statements are typically identified by words or phrases such as, without limitation, "anticipate", "assume", "believe", "continue", "estimate", "expect", "foresee", "intend", "may increase" and "may fluctuate" and similar expressions or by future or conditional verbs such as, without limitations, "will", "should", "would" and "could." Undue reliance should not be placed on such statements, because, by their nature, they are subject to known and unknown risks, uncertainties and other factors, which may cause actual results, on the one hand, to differ from any results expressed or implied by the present communication, on the other hand.
Please refer to SCOR's document de référence filed with the AMF on 8 March 2011 under number D.11-0103 (the "Document de Référence"), for a description of certain important factors, risks and uncertainties that may affect the business of the SCOR Group. As a result of the extreme and unprecedented volatility and disruption of the current global financial crisis, SCOR is exposed to significant financial, capital market and other risks, including movements in interest rates, credit spreads, equity prices, and currency movements, changes in rating agency policies or practices, and the lowering or loss of financial strength or other ratings.
#_ftnref1 Based on the number of shares existing as at June 30, 2011 as published on SCOR Website on July 4, 2011 (on a non-dilutive basis)
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Source: Scor via Thomson Reuters ONE