Tree Island Steel Ltd. Announces Redemption of 10% Second Lien Convertible Debentures
27 Gennaio 2014 - 7:02PM
Marketwired
Tree Island Steel Ltd. Announces Redemption of 10% Second Lien
Convertible Debentures
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 27, 2014) - Tree
Island Steel Ltd. (the "Company" or "Tree Island Steel")
(TSX:TSL)(TSX:TSL.DB) announced today that it will redeem all of
its 10% Second Lien Convertible Debentures scheduled to mature on
November 26, 2014 (the "Debentures") on March 4, 2014 (the
"Redemption Date"). On the Redemption Date, Tree Island Steel will
pay to the holders of redeemed Debentures a redemption price equal
to the principal amount par value of $100 per Debenture, plus
accrued and unpaid interest up to but excluding the Redemption
Date. The aggregate principal amount of Debentures currently
outstanding is $5,890,400.
Formal notice of redemption is being delivered to the holders of
Debentures in accordance with the terms of the Trust Indenture.
Holders of Debentures are advised that they retain their right
to convert all or any part of the outstanding principal amount of
the Debentures into common shares of Tree Island Steel at the
Conversion Price until the day prior to the Redemption Date. The
Conversion Price is equal to $0.50, being a conversion rate of 200
common shares for each $100 principal amount of Debentures
converted. To effect a conversion prior to the Redemption Date, the
Conversion Notice must be received by Valiant Trust Company prior
to 4:00 pm (Pacific Time) on March 3, 2014.
About Tree Island
Steel
Headquartered in Richmond, British Columbia, since 1964, Tree
Island Steel, through its four operating facilities in Canada and
the United States, produces wire products for a diverse range of
industrial, residential construction, commercial construction,
agricultural, and specialty applications. Its products include
galvanized and bright wire; a broad array of fasteners, including
packaged, collated and bulk nails; stucco reinforcing products;
concrete reinforcing mesh; fencing and other fabricated wire
products. The Company markets these products under the Tree Island,
Halsteel, K-Lath, Industrial Alloys, TI Wire, and Tough Strand and
Select Brand names. Tree Island Steel also owns and operates a
China-based company that assists the international sourcing of
products.
Tree Island Steel Ltd.Ali MahdaviInvestor
Relations(416)-962-3300 or +1(866)
430-6247amahdavi@treeisland.com
Grafico Azioni Tree Island Steel (TSX:TSL)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni Tree Island Steel (TSX:TSL)
Storico
Da Gen 2024 a Gen 2025
