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| Sunday, May 17, 03:14:51pm | [ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, 2, 3, 4, 5, 6, 7, 8, [9], 10 ] |
| Subject: volume weighted price ol- an ERG share over the five trading days prior to the date the interest is due.For example, if ERG’S volume weightedshare price for the five days leading up to the datel:utul+e Interest is due was 15 cents, | |
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Author: The Future interest Conversion--example-- the shares wouldbe issued at 14.25 cents.65.8 m |
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Date Posted: Sunday, March 09, 04:34:00am In reply to: in any event will be no later than 30 September 2003 (provided it is approved by Shareholders). 's message, "Share Consolidation" on Saturday, March 08, 02:09:49pm The Future interest Conversion I f the Proposed Conversion does not proceed, but the Noteholders approve the l:utul+e Interest Conversion, the Future Interest will, sub-ject to ss42 carve out, be converted to ERG ordinary shares at a 5% discount to the volume weighted price ol- an ERG share over the five trading days prior to the date the interest is due. Whilst il is not possible tu predict ERG’S share price in the future, Nokholders will receive the full amou11t ofthe Future Interest in ERG shares (“the Future Interest Shares”). For example, if ERG’S volume weighted share price for the five days leading up to the date the l:utul+e Interest is due was 15 cents, the shares would be issued at 14.25 cents. As a result, approximately 65.8 million shares would be issued in lieu ol-the $9.375 million six monthly interest payment. The 15 cents represents a 5.3% premium to the 14.25 cents. [ Next Thread | Previous Thread | Next Message | Previous Message ] |