HEAD N.V. and HTM Sport- und Freizeitgeräte AG ("HTM"), a Subsidiary
of Head N.V., Announce Further Extension of Early Tender Date and
Expiration Date of Previously Announced Private Exchange Offer and
Consent Solicitation Relating to HTM's ¤135,000,000 8¿ Senior Notes
due 2014.
Exchange Offer
Amsterdam - June [5], 2009 - HEAD (VSX: HEAD, U.S. OTC: HEDYY.PK), a
leading global manufacturer and marketer of sports equipment and HTM,
a subsidiary of Head N.V., announced today that HTM is extending the
early tender date and the expiration date of its previously announced
offer to exchange (the "Exchange Offer") its outstanding ¤135,000,000
8¿% Senior Notes due 2014 (the "Existing Notes") for its new 10%
Senior Secured Notes due 2014 (the "Secured Notes") until 5:00 p.m.,
London time, on June 19, 2009. The early tender date and the
expiration date were previously 5:00 p.m., London time, on June 5,
2009. As a result, the settlement date for the Exchange Offer is
expected to be postponed from June 11, 2009 to June 25, 2009. Lucid
Issuer Services Limited, the exchange, information and tabulation
agent in connection with the Exchange Offer, informed us that as at
5:00 pm, London time on June 4, 2009, approximately ¤6.6 million in
aggregate principal amount of the Existing Notes were validly
tendered in the exchange offer.
As a result of the extension of the early tender date and the
expiration date, eligible holders of Existing Notes who validly
tender their Existing Notes in the Exchange Offer on or prior to 5:00
p.m., London time, on June 19, 2009, unless extended will receive
¤350 aggregate principal amount of the Secured Notes for each ¤1,000
principal amount of Existing Notes exchanged. The withdrawal date
for the Exchange Offer remains 5:00 p.m., London time, on May 11,
2009 and has passed. Any tenders made after such date may not be
withdrawn. HTM may terminate or withdraw the Exchange Offer at its
sole discretion, at any time and for any reason.
The Exchange Offer is being made within the United States only to
"qualified institutional buyers" as that term is defined in Rule 144A
under the Securities Act of 1933, as amended (the "Securities Act")
and to persons located outside of the United States and who would be
participating in any transaction in accordance with Regulation S.
The Secured Notes to be offered have not been registered under the
Securities Act and may not be offered or sold in the United States
absent an applicable exemption from registration requirements. This
press release does not constitute an offer to sell or the
solicitation of an offer to buy Existing Notes or Secured Notes in
any jurisdiction in which such an offer or sale would be unlawful.
The Exchange Offer is not being made and will not be made, directly
or indirectly, in or into the Republic of Italy, whether by mail or
by any means or other instrument (including, without limitation,
telephonically or electronically) or any facility of a national
securities exchange publicly or privately available in the Republic
of Italy.
HTM's obligation to accept any Existing Notes tendered and to pay the
applicable consideration for them is set forth solely in the Offering
Circular dated April 21, 2009, as supplemented by the Supplement
thereto dated May 7, 2009 (together, the "Offering Circular"). The
Exchange Offer is made only by, and pursuant to, the terms set forth
in the Offering Circular, and the information in this press release
is qualified by reference to the Offering Circular. Subject to
applicable law, HTM may amend, extend or terminate the Exchange
Offer.
Lucid Issuer Services Limited is serving as exchange, information and
tabulation agent in connection with the Exchange Offer. Requests by
holders for information, the Offering Circular and other documents
should be directed to Lucid Issuer Services Limited, Leroy House, 436
Essex Road, London N1 3QP, U.K., Telephone: +44 20 7704 0880.
About Head
HEAD Group is a leading global manufacturer and marketer of premium
sports equipment.
HEAD NV's ordinary shares are listed on the Vienna Stock Exchange
("HEAD").
HTM is a subsidiary of Head N.V.
Our business is organized into four divisions: Winter Sports, Racquet
Sports, Diving and Licensing. We sell products under the HEAD
(tennis, squash and racquetball racquets, tennis balls, tennis
footwear, badminton products, alpine skis, ski bindings and ski
boots, snowboards, bindings and boots), Penn (tennis and racquetball
balls), Tyrolia (ski bindings), and Mares/Dacor (diving equipment)
brands.
We hold leading positions in all of our product markets and our
products are endorsed by some of the world's top athletes including
Andre Agassi, Hermann Maier, Bode Miller, Amelie Mauresmo, Svetlana
Kuznetsova, Novak Djokovic Andrew Murray, Ivan Ljubicic, Didier
Cuche, Marco Büchel, Patrick Staudacher, Maria Riesch and Sarka
Zahbrovska.
For more information, please visit our website: www.head.com
Analysts, investors, media and others seeking financial and general
information, please contact:
Clare Vincent, Investor Relations
Tel: +44 207 499 7800
Fax: +44 207 491 7725
E-mail: headinvestors@aol.com
Ralf Bernhart, Chief Financial Officer
Tel: +43 1 70 179 354
Fax +43 1 707 8940
Head N.V.
Rokin 55
NL 1012 KK Amsterdam
ISIN: NL0000238301
Stock Market: Official Market of the Vienna Stock Exchange
HTM Sport- und Freizeitgeräte AG
Tyroliaplatz 1
A 2320 Schwechat
ISIN: XS0184717956 / XS0184719143
Stock Market: Luxembourg Stock Exchange
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.