Bonds will be issued in lei and will have a four-year maturity (16 quarters) from the issue date, with an annual interest rate of maximum 8%/year, payable on a quarterly basis. Initially, they will be offered for subscription to shareholders registered at the registration date set by the Extraordinary General Meeting of Shareholders, according to their preference right stipulated at article 216 1 of Law no. 31/1990.
The period for exercising the preference right will be set through the issue prospectus. Bods left unsubscribed by the company’s shareholders will make the object of a private placement or public offering intended for interested investors.
Bonds can be turned into shares within a maximum ceiling of 15% of the company’s share capital form the date of conversion. The company will be able to exercise the redemption right to in the thirteenth quarter calculated from the date of the bond issue, under the conditions set in the issue prospectus.
Life is Hard, with a market value of RON50.4 million, is 39.2% owned by Ioan-Catalin Chis and 37.5% held by Active Power Solutions Cluj.
LIH shares have been trading up 37.5% since the beginning of 2021, amid deals worth RON3.3 million, per stock market data.