OTCPK:ARNBF - Post by User
Comment by
teeveeon Jul 24, 2014 5:32pm
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Post# 22779968
RE:Shares for debentures
RE:Shares for debenturesjd43xl wrote:
For you morons who keep asking if ARN can redeem the debentures early, and pay them out in shares, why don't you read the prospectus? Or are you both too stupid to understand English?
LOL......From the prospectus (in English) for shareholders who might want to against and get diluted, and for debenture holders who might want to vote against and get paid in shares instead of $.825/$1.00:-):
Subject to required regulatory approval and provided that there is not a current Event of Default (as defined in the Indenture and summarized herein), the Corporation has the option to satisfy its obligation to repay the principal amount of the Debentures, due at redemption or maturity, upon not less than 40 days and not more than 60 days prior notice, by issuing and delivering that number of freely tradeable Common Shares obtained by dividing the principal amount of the Debentures by 95% of the Current Market Price on the date of redemption or maturity, as applicable. Further particulars concerning the interest, repurchase and maturity provisions of the Debentures are set out under "Details of the Offering" below..........