10.25% convertible notes are due on March 30, 2015, convert at A$1.45
By Devika Patel
Knoxville, Tenn., March 31 - Heemskirk Consolidated Ltd. said it has settled a private placement of convertible notes. The A$3.78 million of 10.25% notes are due March 30, 2015.
The notes convert to stock at A$1.45 per share.
The company also said it bought back 926,000 of its A$3 unsecured convertible notes in an off-market buyback. There are now A$26.02 million of convertibles remaining.
Heemskirk is a barite, zeolite and gypsum mining company based in Melbourne, Australia.
| Issuer: | Heemskirk Consolidated Ltd.
|
| Issue: | Convertible notes
|
| Amount: | A$3.78 million
|
| Maturity: | March 30, 2015
|
| Coupon: | 10.25%
|
| Conversion price: | A$1.45
|
| Warrants: | No
|
| Settlement date: | March 31
|
| Stock symbol: | Australia: HSK
|
| Stock price: | A$0.16 at close March 31
|
| Market capitalization: | A$24.99 million
|
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