Elis S.A. will proceed with the early redemption on 13 October 2026 of all of its €380,000,000 2.25% bonds convertible into new shares and/or exchangeable for existing shares due 2029, known as OCEANEs, ISIN FR001400AFJ9. Unless bondholders exercise their conversion or exchange right by the applicable deadline, the company will redeem each outstanding bond in cash at an early redemption price of EUR 100,129.45, equal to the EUR 100,000 par value plus EUR 129.45 in accrued interest from 22 September 2026 to the redemption date. The company said the calculation agent Conv-Ex Advisors Limited verified that the arithmetic mean over 20 consecutive trading days from 11 August 2026 to 7 September 2026 of the volume-weighted average price of the shares multiplied by the conversion ratio exceeded 130% of each bond's par value. Bondholders may exercise their conversion or exchange right provided the relevant request date falls no later than 2 October 2026, the seventh business day before the early redemption date, with Uptevia acting as centralising agent. As of the notice date, 3,800 bonds remain outstanding out of 3,800 initially issued, and with a conversion ratio of 6,256.8564 shares per bond, a maximum of 23,776,054 Elis shares could be delivered, representing approximately 10.21% of the company's current share capital. Elis said it intends to use existing shares held following the completion of its share buyback program on 9 July 2026, limiting the number of newly issued shares that may be required.
Elis SAElis will early-redeem its €380M 2029 OCEANEs in cash, using existing buyback shares to limit dilution, a balance-sheet/valuation event
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