AMSTERDAM, The Netherlands, Oct. 20, 2015 (GLOBE NEWSWIRE) -- Head BV (U.S. OTC: HEDYY.PK) ("Head" or "Company"), a leading global manufacturer and marketer of sports equipment, announced today that the proposal to resolve to cancel all issued and outstanding ordinary shares of the Company against a repayment of €0.70 (the Redemption Price) and the proposal to issue an equal number of preference shares to the shareholders that opt for preference shares for an issue price of €0.70 was accepted by the General Meeting held today.
The holders of ordinary shares that were "bearer shares" prior to HEAD'S conversion into a "BV" in the capital of the Company will have a period of two weeks from the adoption of this resolution (so until 5pm CET Wednesday 4th November, 2015), and holders of ordinary shares that were "US common shares" prior to HEAD'S conversion into a "BV" in the capital of the Company will have a period of twenty business days from the adoption of this resolution (so until 5pm EST Wednesday 18th November, 2015), to make use of an option right to acquire the same number of preference shares. Full details of how to exercise the option right can be found in the convocation for the general meeting.
Holders of ordinary shares (registered and unregistered) who do not exercise their option right to subscribe for preference shares will be able to apply to receive the Redemption Price. Full details of how to apply to receive the Redemption Price can be found in the convocation for the general meeting.
Further details, if required, can be provided by the Company at Investor-Relations@head.com.
HEAD BV is a leading global manufacturer and marketer of premium sports equipment and apparel.
Our business is organized into five divisions: Winter Sports, Racquet Sports, Diving, Sportswear and Licensing. We sell products under the HEAD (alpine skis, ski bindings, ski boots, snowboard and protection products, tennis, racquetball, paddle and squash racquets, tennis balls and tennis footwear, sportswear and swimming products), Penn (tennis balls and racquetball balls), Tyrolia (ski bindings), Mares and SSI (diving) brands.
For more information, please visit our website: www.head.com
Prins Bernhardplein 200,
1097 JB Amsterdam
Bond: ISIN: CH0222437011
Market: SIX Swiss Exchange
EGM October 2015 http://hugin.info/133711/R/1960148/714455.pdf