125
by a maximum nominal amount of Euro 1,344,411.30,
by issuing, in single or multiple instalments, up to
13,444,113 ordinary shares of the Company, with the
same characteristics as its outstanding ordinary shares,
exclusively and irrevocably to serve the Bond’s conversion.
The initial conversion price of the Bonds into the Company’s
existing and/or new ordinary shares is Euro 22.3146 per share.
On 3 May 2013, the Company sent a physical settlement notice
to holders of the Bonds, granting them the right, with effect
from 17 May 2013, to convert them into the Company’s existing
or new ordinary shares.
On 24 May 2013, the securities were admitted to trading on
the unregulated Third Market (a multilateral trading facility or
MTF) on the Vienna Stock Exchange.
Termination of receivables securitization programme
The trade receivables securitization programme, started
by the Group in 2007, was terminated in July 2013 upon
reaching its end date. As described in Section B.2 Basis of
consolidation, because the special purpose entities used
for the securitization were consolidated, the securitized
receivables were recognised in the Group’s consolidated
financial statements until they were effectively collected, as
were liabilities due to third-party lenders.
Group employee share purchase plan (YES Plan)
On 16 April 2013, the shareholders approved a share purchase
plan reserved for employees of Prysmian S.p.A. and/or of its
subsidiaries, including some of the Company’s Directors.
The Plan offers the opportunity to purchase Prysmian’s
ordinary shares on favourable terms, with a maximum
discount of 25% on the value of the stock, offered in the form
of treasury shares. The shares purchased will be subject to a
retention period, during which they will not be available for
sale. The Plan envisages three purchase windows: 2014, 2015
and 2016.
During the month of October 2013, the plan was presented
and explained to some 16,000 of the Group’s employees in
27 countries and subscriptions were collected for the first
purchase window.
More details can be found in Note 21. Personnel costs.
