GREY:FTPLF - Post by User
Comment by
nkbourbakion Jun 19, 2019 2:45pm
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Post# 29841056
RE:RE:RE:RE:RE:RE:155 million shares would roughly need to be issued to repay
RE:RE:RE:RE:RE:RE:155 million shares would roughly need to be issued to repay From Section 1.2(d) of the Second Supplemental Indenture, posted to SEDAR on Oct 11, 2018:
"In connection with the redemption of the 9.75% Convertible Debentures, the Corporation may, at its option and subject to the provisions of Section 4.6 of the Indenture and subject to regulatory or stock exchange approval, elect to satisfy its obligation to pay all or a portion of the aggregate Redemption Price of the 9.75% Convertible Debentures to be redeemed by issuing and delivering to the holders of such 9.75% Convertible Debentures, such number of Freely Tradeable Common Shares as is obtained by dividing the principal amount of such 9.75% Convertible Debentures by 95% of the Current Market Price in effect on the Redemption Date."
That document details the various amendments that were made to the original indenture, including the restrictions on additional senior financing. Worth a read.