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| Subject: Information on the Listed Convertible notes unsecured. | |
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Author: anonymous |
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Date Posted: 22:17:18 11/09/02 Sat http://www.asx.com.au/markets/l4/irmdescriptionergg_am4.shtm ------------------------------------------------------------ ERG Limited ------------------------------------------------------------ The information below is a summary only. Potential investors should acquaint themselves with the full details in the prospectus or consult their financial advisor. ----------------------------------------------------------- ASX code: ERGG Quote date: 3 March 2000 Issue type: Unsecured convertible Notes Share registry: Computershare Investor Services Pty Limited ----------------------------------------------------------- G.P.O. Box D182, Perth, WA, 6840 ----------------------------------------------------------- Ph: (08) 9323 2000 Fax: (08) 93232033 ----------------------------------------------------------- Issue currency: AUD Notes on issue: 18,518,519 (as at 13/11/00) Face value: $13.50 per note Maturity date: 1 October 2005 Interest rate: 7.5% pa payable half-yearly in arrears. Interest payment Dates: 1 October and 1 April in each year and the Maturity Date. Books close Date (Record Date): The Record Date is at the close of business 11 business days prior to the Interest Payment Date. ------------------------------------------------------------ The securities are marked 'ex-interest' for SEATS trading purposes on the open of business 4 days prior to the Record Date. These dates can be subject to change, and consequently should be confirmed by contacting your broker, the Issuer or the Issuer's registrar. Conversion Terms Notes are convertible on a Conversion Date during the Conversion Period into the number of Shares, Determined in accordance with the Redemption Terms below, by Noteholder delivering to the company not more than 15 business days but not less than 5 business days before the conversion Date on which the Notes are to be converted (except that the Company reserves the right , in its sole discretion, to accept delivery during that five business day period) of: a Conversion Notice requiring the Company to Convert the Notes specified in that notice on the next Conversion Date; and the Note Extract in respect of or including reference to the Notes to be Converted ----------------------------------------------------------- Conversion dates: Conversion Date means, where a notice is given: (a). each Interest Payment Date during the conversion period; (b). within five Business Days after the date on which a Noteholder serves a Conversion Notice; whereby the earliest Conversion Date is 1 April 2001 and the Final Conversion Date is at Maturity of the notes. Redemption cetails: On Conversion of a Note: (a). the Company must redeem that Note for an amount equal to its Face Value; and (b). the Noteholder of that Note, by operation of this Condition, hereby irrevocably directs the Company to apply the whole of the moneys payable to it on redemption in subscribing for one Share in accordance with the Company's constitution. Status: The Notes constitute direct, unsecured and subordinated obligations of the Company and rank: pari passu without any preference among themselves; behind all claims of Ordinary Creditors; pari passu with creditors whose claims against the Company rank or are expressed to rank pari passu with the Noteholders' claims with respect to Note Debt; and ahead of all claims expressed by their terms to be junior or subordinated to the Noteholders' claims with respect to Noted Debt ----------------------------------------------------------- Financial covenants: The Company covenants that it will not sell, lease, transfer, assign, part with possession or otherwise dispose of any of its assets, except if the disposal: does not require the approval of the shareholders of the Company under the Listing Rules; or has been approved by an Ordinary Resolution of Noteholders The Company must not declare or pay a dividend nor make any other kind of Distribution in respect of the shares other than in The ordinary course of business and consistent with its past practice provided that in no event may the aggregate dividend in respect of the Shares exceed 30% of the Company;'s net operating profits before income tax after accounting for all interest expenses in any period of 12 months. ----------------------------------------------------------- Event of Default: If any event of Default occurs, then the Note Trustee may, and if: (a). requested in writing by the holders of at least one-half of the aggregate Face Value of the Notes outstanding; or (b). so directed by an Extraordinary Resolution shall, by written notice to the Company declare the outstanding principal, all accrued interest in respect of each Note to be due and payable immediately or on such other date specified in the notice unless, prior to receipt of such notice, the Company has wholly remedied all Events of Default. Trustee: Perpetual Trustee company Limited. Disclaimer: Subject to and in accordance with the terms of use, ASX excludes all liability arising out of any inaccuracies and any use or reliance by you on the above information, except where liability is implied by law or when liability by law cannot be excluded. [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| Re: Maturity on the Listed notes is 1/10/05 Convertible untill 31/10/2003 | anonymous | 11:33:49 11/10/02 Sun |
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