Resparcs Funding Limited Partnership I
Resparcs Funding Limited Partnership I: Participation in losses and non-payment of coupons for HSH Nordbank’s hybrid capital
Resparcs Funding Limited Partnership I / Key word(s): Dividend/Final Results
March 07, 2011 RESPARCS Funding Limited Partnership I (the company) announces the following: The Company was informed by HSH Nordbank AG, Hamburg and Kiel ('the Bank'), that the financial statements for the business year 2010 of the Bank according to HGB ('Handelsgesetzbuch' / German GAAP) will report a balance sheet loss/net loss for 2010. Therefore, no coupon payments for the fiscal year 2010 will be made by the Bank on silent participations and profit participation capital. Moreover, these hybrid instruments will participate in the Bank's balance sheet loss/net loss. For the instruments of RESPARCS Funding Limited Partnership I with ISIN XS0159207850 listed on the Luxembourg Stock Exchange which are based on a silent participation, this means that no coupon payment will be made for the profit period 2010 and that these instruments will participate in a balance sheet loss for the fiscal year 2010 via the silent participation. The book value of the silent participation was reduced by approx. 4 percent to approx. 79 percent. The exact amount of loss participation will be finally announced following the adoption of the Bank's financial statements by the Supervisory Board of the Bank on 31 March, 2011. The following instrument of RESPARCS Funding Limited Partnership I is affected: ISIN XS0159207850 listed on the Luxembourg Stock Exchange; coupon payment dates: 30 September 2011/ 30 December 2011/ 30 March 2012/ 30 June 2012
Issuer: Hong Kong, March 07, 2011
Company: RESPARCS Funding Limited Partnership I End of Corporate News 07.03.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
114678 07.03.2011 |