OTCPK:ARNBF - Post by User
Post by
jd43xlon Jul 24, 2014 10:22pm
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Post# 22780595
teevee, debenture redemption
teevee, debenture redemption
You left out a very important paragraph, which says that ARN cannot redeem the debs early unless the share price is above the conversion price;
"The Debentures shall not be redeemed by the Corporation prior to February 28, 2014. On and after February 28, 2014 and prior to February 28, 2016, the Debentures may be redeemed by the Corporation, in whole or in part from time to time, on not more than 60 days and not less than 40 days prior notice at a redemption price equal to their principal amount plus accrued and unpaid interest, if any, up to but excluding the date set for redemption, provided that the Current Market Price on the date on which notice of redemption is provided is at least 125% of the Conversion Price"