GREY:MBLKF - Post by User
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jameslaston May 06, 2011 11:48am
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Post# 18540437
MEGA BRANDS INCREASES ITS FINANCIAL FLEXIBILITY
MEGA BRANDS INCREASES ITS FINANCIAL FLEXIBILITYMEGA BRANDS INCREASES ITS FINANCIAL FLEXIBILITY
Debentureholders Approve Amendments to Debenture Indenture
MONTREAL, May 6 /CNW Telbec/ - MEGA Brands Inc. (TSX: MB) announces that holders of its 10% senior secured debentures passed an extraordinary resolution today approving amendments to the indenture governing the debentures. The amendments, among other things, allow the Corporation to increase available borrowings for working capital purposes under its existing asset-based credit agreement and are effective as of today. The extraordinary resolution was approved by approximately 92% of the votes cast in person or represented by proxy at the special meeting of debentureholders.