GREY:ADEXF - Post by User
Comment by
rpdelucaon Mar 19, 2012 10:39am
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Post# 19689219
RE: maturity date
RE: maturity date Yes the conversion price is an option but they cannot demand payment on June 1. The Debenture is non-interest bearing and the term on it is 24 months, hence maturing March 2, 2014. Xinxing has the right to convert the Debenture in whole or in part into common shares any time prior to the Maturity Date at the specified Conversion Price (the mininum of course being 45 cents). If they chose at this point not to convert, they have 2 years to convert or ask for payment from AXI at maturity.
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