Algoma Central Corp T.ALC

Alternate Symbol(s): AGMJF

Industrials

Algoma Central Corporation is a Canada-based marine shipping company. The Company owns and operates a fleet of dry and liquid bulk carriers’, serving markets throughout the Great Lakes St. Lawrence Seaway and internationally. Its Domestic Dry-Bulk segment includes the Company’s 18 Canadian dry-bulk carriers. This segment serves industrial sectors, including iron and steel producers, aggregate producers, cement and building material producers, salt producers and agricultural product distributors. The Product Tankers segment fleet consist of seven product tankers employed in Canadian flag service and one international tanker operating in Canada. Its Ocean Self-Unloaders segment consists of eight ocean-going self-unloading vessels and a 25% interest in a ninth selfunloader. Its Global Short Sea Shipping segment, which consists of the Company's NovaAlgoma joint ventures, focuses on niche marine transportation markets featuring specialized equipment or services.

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Algoma Central Corp > Conversion of debentures to common

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Comment by DanGood38on May 22, 2024 1:47pm

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Post# 36052352

RE:RE:Conversion of debentures to common

Algoma will save, I figure, $4.33 million ($82.5×5.25%). At book value the savings to the existing shareholders is like getting rid of debt at 5.25% but since the shares trade at 70 cents on the dollar the savings is like getting rid of debt at 7.5% (5.25/.7). This should nullify the effect of issuing shares at 70 cents on the dollar (which I hope they don't do but it's still up in the air).

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