NETHERLANDS: Royal Ahold Adjusts Conversion Price On 3% Convertible Subordinated Notes Due 2003
Royal Ahold, the international food provider, today announced the adjustment of the conversion price of its 3% convertible subordinated notes due 2003 to NLG 61.84 (or EUR 28.06) from NLG 62.78 (or EUR 28.49) per common share of NLG 0.50 par value.
The adjustment comes after certain holders of Ahold's common shares decided to receive their 1999 final dividend in the form of common shares instead of EUR 0.35 per common share in cash.
Royal Ahold is a rapidly growing international food provider with leading supermarket operations in the United States, Europe, Latin America and Asia. The company operates more than 7,000 supermarkets, hypermarkets and specialty stores with annualized sales approaching USD 50 billion. The company services more than 30 million weekly customers and employs 350,000 associates. In the United States Ahold is the leading supermarket operator along the eastern seaboard with more than 1,000 stores (including Stop & Shop, Giant, Tops, and BI-LO), a nationwide food service operation (U.S. Foodservice) and prominent e-commerce activities. Annualized US sales approach USD 30 billion.
In addition to its listing on the New York Stock Exchange, Ahold's shares are trading on the Amsterdam Exchanges and on the Swiss Exchange, and Ahold options are also traded on the American Stock Exchange (AMEX). Additional information is available on Ahold's website: http://www.ahold.nl.
Royal Ahold press releases may contain `forward-looking' statements. Actual results may differ from such statements as they may have been influenced by factors beyond the Company's ability to control.
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