German based E.ON AG respectively their predecessor VIAG AG held RHI shares of at last below 10% since mid of the nineties, when VIAG sold Didier-Werke AG to RHI.
E.ON’s sale was expected and is thus not surprising to the market and RHI, due to the fact that the RHI stake was non-core for E.ON.
RHI’s free float now increased to above 80% and ensures a high liquidity in RHI shares, member of Vienna Stock Exchange prime index ATX.
Shareholders with disclosed interests are now August Francois von Finck, Switzerland, with nearly 10%, and Wilhelm Winterstein, Germany, with more than 5%.
Neither the E.ON sale nor 18 convertible bonds that were announced for conversion into 99.000 new RHI shares effective July 1 had a negative impact on the share price. Effective July 1 the new number of RHI shares amounts to 20.162.039 (+0,49%).
As expected, only a few convertible bonds were presented for conversion. Both, the share price development and the share price potential are reflected in the fair value of the bonds, which – in addition – offer an attractive interest.
Since the beginning of 2004 the RHI share price increased some 20% from EUR 15 to EUR 18. In 2003, RHI outperformed the ATX with a share price increase of 105%.