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Ad-Hoc News from 4 Dezember 2009

4 December 2009 | 

Call of Convertible Bonds 2005/10.

voestalpine AG has resolved to exercise an early call for the entirety of the 1.5% 2005/2010 convertible bonds issued in July 2005 with conversion rights to shares of voestalpine AG (ISIN AT0000492905).

The call is being exercised pursuant to § 5 (c) of the terms and conditions of the convertible bond offering, because the entire nominal amount of convertible bonds outstanding (8.6%) is less than 15% of the total nominal amount of the convertible bonds issued which was € 250,000,000.00. The call will be effective on January 29, 2010.

The convertible bonds will be redeemed on January 29, 2010 at their face amount plus interest accrued up to January 29, 2010, unless the holders of the convertible bonds have exercised their conversion rights by the end of the day on January 25, 2010.

On the basis of the current share price of the voestalpine AG share, the company’s assumption is that the majority or the entirety of the convertible bond holders will exercise their conversion rights. The company intends to use contingent capital under § 4(6) of the articles of association of voestalpine AG to redeem conversions. If all of the bond holders make use of their conversion rights, the company will be issuing up to 1,150,133 new common bearer shares in the company (= 0.69% of voestalpine AG’s share capital).