Canfor announces conversion of debentures
Nov 16, 2004. The Debentures were convertible into Common Shares of Canfor at the option of the holder at any time up to the close of business on November 12, 2004 at a Conversion Price of $13.20 for each Common Share, which is equivalent to 75.76 Common Shares for each $1,000 principal amount of Debentures. Accordingly, Canfor has today issued a total of 11,742,424 Common Shares to the Debenture holders.
Nov 16, 2004. /Lesprom Network/. Canfor Corporation announced today that the holders of all of its outstanding $155,000,000 (CDN) aggregate principal amount of 6.25% Convertible Subordinated Redeemable Debentures due November, 2006 ("Debentures") have exercised the right of conversion attached to the Debentures. Canfor had previously given notice to the holders of its intention to redeem the Debentures on November 15, 2004.
The Debentures were convertible into Common Shares of Canfor at the option of the holder at any time up to the close of business on November 12, 2004 at a Conversion Price of $13.20 for each Common Share, which is equivalent to 75.76 Common Shares for each $1,000 principal amount of Debentures. Accordingly, Canfor has today issued a total of 11,742,424 Common Shares to the Debenture holders.