INDEPENDENT NEWS

Evergreen Noteholders Agree to Early Redemption

Published: Fri 4 Nov 2005 09:54 AM
3 November 2005
Evergreen Noteholders Agree to Early Redemption
Convertible note holders resolved today to approve changes to the Trust Deed to enable early redemption of the notes. Repayment of note holder interests has been sought by Evergreen Forests Limited following the sale of the majority of its forest and land assets completed on 31st October 2005.
The amendment to the Trust Deed (as approved) provides for redemption of the notes within 10 days of the sale completion. Accordingly, Evergreen now advises that it will proceed to redeem notes held by convertible note holders who are registered as such as at the record date of 5 pm on Friday 4th November, with the redemption payment to be made, and the effective date of redemption, on 10th November 2005.
In order to facilitate an orderly redemption, Evergreen has requested from NZX, and NZX has agreed to, a trading halt on the convertible notes to apply from 5 pm on 4th November, 2005.
ENDS

Next in Business, Science, and Tech

Food Prices Increase 7.4 Percent Annually
By: Statistics New Zealand
REINZ July Data: Market Activity And Prices Continue To Ease, First Home Buyers Start To Return To The Market
By: REINZ
Cigna Admits Making False And Misleading Representations
By: Financial Markets Authority
Retail NZ Welcomes Return Of Cruise Ships
By: Retail NZ
ASB Full Year Results: Building Resilience Today And For Our Future
By: ASB Bank
Commerce Commission Issues Draft Determination On News Publishers’ Association’s Collective Bargaining Application
By: Commerce Commission
Auckland Rental Prices Inch Up Again, But Upward Trend Could Ease In Coming Months
By: Barfoot and Thompson
View as: DESKTOP | MOBILE © Scoop Media