Post by
llennn on Apr 01, 2015 6:32pm
It's for You
CONCORD, ONTARIO, April 1, 2015 – Armtec Infrastructure Inc. (“Armtec” or the “company”) (TSX: ARF) announced today that the Toronto Stock Exchange (the “TSX”) has advised Armtec that its 6.50% convertible unsecured subordinated debentures due 2017 (the “Convertible Debentures”) (TSX: ARF.DB) will commence trading on an interest flat basis on April 2, 2015.
Comment by
2Greying on Apr 01, 2015 6:55pm
Never heard of them doing that before....not sure how it will work since Armtec has said they won't be paying interest for now
Comment by
llennn on Apr 01, 2015 7:06pm
It's looks like it may be a treading unit to pull up share price as the DB, s should increase by .164 per day Approximately, it's roll the dice someone pays twice (existing or Newco SH to possibly be) we got zips in the wire and its a party line, safe harbour applies, forward looking, I don't give advice, talk to FA, etc etc etc
Comment by
alkhor on Apr 01, 2015 8:09pm
Up until today buyers were paying interest to the sellers. Armtec has suddenly realized those buyers paid the interest in anticipation of getting it back when they sell or paid semi annually. I'm sure there will be another NR stating interest will be paid to all buyers up until April 1. Otherwise they will have a legit claim in CCAA proceedings.
Comment by
alkhor on Apr 02, 2015 10:23am
"That will pemit to someone to buy all those bonds at 0.005 $ per 100$ without paying the interest. That means 20 000 000 $ of bonds can be buy for 100 000 $. Brookfield will benifit from that new rule." You may need some help with your math. At 0.005 $ per 100$, 20 000 000 $ will cost $1000, Of course the price has already skyrocketed to 5 cents par $100.
Comment by
HRc60to65 on Apr 02, 2015 6:33pm
you are rigth 1000$ for 20 000 000 $ bonds