IDEX – Conversion of debt to equity
In 2007 IDEX ASA (“IDEX”) obtained a financial loan from shareholder A. S. Holding A/S (“Holding”). According to the loan agreement, latest renewed on 20 November 2009, Holding has the unilateral right to request conversion of the loan to shares in IDEX. On 2 February 2010 IDEX received notice of conversion from Holding.
The conversion applies to the loan principal and accrued interest per 31 December 2009 amounting to a total of NOK 13.1 million. Consequently, the equity in IDEX will increase by the same amount. The conversion, which will result in issue of 65.7 million new shares in IDEX, will be carried out as soon as practical.
Oslo Børs has set certain conditions for admitting the IDEX share to listing on Oslo Axess. Additional equity is one such condition, which will be satisfied by the conversion.
3 February 2010