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News Breaks | | | | December 24, 2012 | | 05:00 EDT |  | VIP | VimpelCom receives notice of Preferred Share conversion by Altimo
VimpelCom announced that Altimo Cooperatief U.A. has delivered a notice to the Company that Altimo intends to convert 128.53M Convertible Preferred Shares of the company owned by Altimo into Common Shares of the company at a ratio of one Convertible Preferred Share for one Common Share. The conversion date has been notified as April 16, 2013 and the conversion premium to be paid by Altimo to the company upon conversion is $10.84, the closing mid-market price on December 21, per Convertible Preferred Share. Based on this conversion premium, once Altimo converts its preferred shares into common shares the company will receive approximately $1.4B for the conversion. Altimo's voting percentage, which is currently 47.9%, will not increase as a result of the conversion while its economic interest in the company will increase from 52.7% to 56.2%, based on current outstanding share and ownership percentages. | |
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News For VIP From The Last 14 Days Check below for free stories on VIP the last two weeks. |
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| May 15, 2013 | | 05:44 EDT |  | VIP | VimpelCom reports Q1 basic EPS 25c, may not compare to consensus 22c
 Subscribe for More Information | | | May 14, 2013 | | 15:30 EDT | | VIP | Notable companies reporting before tomorrow's open
Subscribe for More Information | | | May 8, 2013 | | 05:54 EDT | | VIP | VimpelCom CFO to leave the company in September
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