Schaffner Holding AG: Redemption of convertible bond completed

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Schaffner Holding AG: Redemption of convertible bond completed

2.25% convertible bonds 2004-2010 – nominal value CHF 49.4 million

Schaffner Holding AG completed the redemption of the maturing convertible bond (2.25% convertible bonds 2004-2010) on January 28, 2010 in accordance with the conditions of the issue prospectus. The convertible bond was issued on January 28, 2004 with a nominal value of CHF 49.4 million and final redemption after six years (2004-2010). The conversion price (strike) was adjusted several times over the duration of the bond in accordance with the conditions of the convertible bond (Art. III Section 5 [d], [i] of the issue prospectus), and on January 28, 2010 amounted to CHF 230.96. The conversion price was adjusted from CHF 260 to CHF 238.32 on January 29, 2007, to CHF 232.16 on April 5, 2007, and to CHF 230.96 on April 3, 2009.

Conversions totaling CHF 1.6 million took place in fiscal 2008/2009. Conversion was achieved using CHF 1.5 million of the company’s own shares and a cash payment of CHF 0.1 million. Schaffner Holding AG also repurchased convertible bonds worth a total of CHF 18.4 million for redemption. Follow-up financing for the convertible bonds outstanding on January 28, 2010 has been secured with Schaffner Holding AG’s four principal banks in the form of an approved credit line. These credit agreements are linked to covenants.

The convertible bond was traded on the SIX Swiss Exchange under securities number 1 754 641 and ticker symbol SAH04. The conditional capital of CHF 6.175 million or 190,000 shares at CHF 32.50 each created specifically for the convertible bond was released upon redemption of the convertible bond.

Luterbach, January 28, 2010

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