Bunge Announces All of its Preferred Shares to Convert Into Common Shares
18 Março 2022 - 6:00PM
Business Wire
Bunge Limited (NYSE: BG) announced today that all issued and
outstanding shares of its 4.875% cumulative convertible perpetual
preference shares (CUSIP G16962204) will automatically convert into
common shares of the Company, par value US$0.01 per share. The
conversion reflects Bunge’s strong share price performance in
recent months, increases the common shares public float, and as a
result simplifies and strengthens the company’s capital structure.
The conversion process will be completed on March 23, 2022. No
action by holders of preferred shares is required.
In accordance with the certificate of designation governing the
preferred shares, the conversion was ultimately triggered by the
closing price of $104.91 of the common shares on the NYSE on March
18, 2022. This date marked the 20th trading day in the previous 30
trading days that the closing common share price exceeded 130% of
the conversion price, triggering the Company’s right, at its
option, to mandatorily convert the preferred shares. The conversion
price was adjusted from $78.1322 to $77.8482 on February 16,
2022.
Each preferred share will automatically convert into 1.2846
common shares. Currently, there are approximately 6,898,268
preferred shares issued and outstanding prior to the conversion,
which will result in the issuance of approximately 8,861,515 new
common shares. Currently, there are approximately 142,731,878
common shares issued and outstanding.
As a result of the conversion, no preferred shares will be
issued or outstanding, and all rights of the former holders of
preferred shares will terminate. Dividends on preferred shares to
be converted will cease to accrue on March 23, 2022. Accordingly,
holders of preferred shares will not be entitled to receive the
$1.21875 per share dividend declared by the Company in respect of
preferred shares on February 23, 2022 and payable to holders of
record on May 15, 2022. After the conversion date, current holders
of preferred shares will be entitled to receive the $0.525 per
share dividend declared by the Company with respect to the common
shares on February 23, 2022, but only to the extent such holder
remains a holder of record of common shares on May 19, 2022.
About Bunge
At Bunge (NYSE: BG), our purpose is to connect farmers to
consumers to deliver essential food, feed and fuel to the world.
With more than two centuries of experience, unmatched global scale
and deeply rooted relationships, we work to put quality food on the
table, increase sustainability where we operate, strengthen global
food security, and help communities prosper. As the world’s leader
in oilseed processing and a leading producer and supplier of
specialty plant-based oils and fats, we value our partnerships with
farmers to improve the productivity and environmental efficiency of
agriculture across our value chains and to bring quality products
from where they’re grown to where they’re consumed. At the same
time, we collaborate with our customers to create and reimagine the
future of food, developing tailored and innovative solutions to
meet evolving dietary needs and trends in every part of the world.
Our Company is headquartered in St. Louis, Missouri, and we have
almost 23,000 dedicated employees working across approximately 300
facilities located in more than 40 countries.
Website Information
We routinely post important information for investors on our
website, www.bunge.com, in the "Investors" section. We may use this
website as a means of disclosing material, non-public information
and for complying with our disclosure obligations under Regulation
FD. Accordingly, investors should monitor the Investors section of
our website, in addition to following our press releases, SEC
filings, public conference calls, presentations and webcasts. The
information contained on, or that may be accessed through, our
website is not incorporated by reference into, and is not a part
of, this document.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220318005408/en/
Media Contact: Bunge News Bureau Bunge 636-292-3022
news@bunge.com
Investor Contact: Ruth Ann Wisener Bunge Limited 636-292-3014
Ruthann.wisener@bunge.com
Bunge Global (NYSE:BG)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Bunge Global (NYSE:BG)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024