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National Grid ADR repsg 5 Ord Shs V.NGG


Primary Symbol: NGG Alternate Symbol(s):  NGGTF

Utilities Utilities - Diversified
National Grid plc is a United Kingdom-based energy company. The Company's principal activities involve the transmission and distribution of electricity in Great Britain and of electricity and gas in the northeastern United States. Its segments include UK Electricity Transmission, UK Electricity Distribution, New England, New York and National Grid Ventures. The UK Electricity Transmission segment includes the high-voltage electricity transmission networks in England and Wales. The UK Electricity Distribution segment includes the electricity distribution networks of NGED in the East Midlands, West Midlands and Southwest of England and South Wales. The New England segment is engaged in gas distribution networks, electricity distribution networks, and high-voltage electricity transmission networks in New England. The New York segment is engaged in gas distribution networks, electricity distribution networks, and high-voltage electricity transmission networks in New York.


NYSE:NGG - Post by User

National Grid ADR repsg 5 Ord Shs
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Post by retireyoung13on Apr 09, 2010 3:01pm
492 Views
Post# 16975749

How they are gonna pay for this.. anyone?

How they are gonna pay for this.. anyone?

On November 28, 2008 the Company entered into a non-brokered financing of unsecured convertible debentures for up to $3,000,000 maturing April 30, 2010. The debentures bear interest at base rate of 10% per annum payable semi-annually and subject to certain other terms including possible bonus interest at maturity and default remedies. At maturity debentures will be repaid in cash, unless between 30 and five days before maturity debenture holders have made a written election to have the principal amount of their debentures converted into shares at a price of C
.20 per share.

In the event that the average price of gold based on the London Gold Fix

during the term of the debenture exceeds US$1000/oz, the Company shall, on the maturity date, pay to each debenture holder a bonus payment equal to 5% of the principal amount of the debenture

Bullboard Posts
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