On May 29, 2013, Schindler Holding Ltd. (“Schindler”) issued exchangeable bonds that could be exchanged for registered shares of ALSO Holding AG (“ALSO”). The total issue size was CHF 218 million. The conversion period ended on May 26, 2017. During the term of four years, 99.99% of the bonds were exchanged and Schindler’s participation in ALSO was subsequently reduced to almost zero. As a result, the transaction has been successfully completed for all parties involved.