Basis100 to amend, redeem convertibles

New York, June 30 - Basis 100 Inc. said holders of its convertible debentures due 2006 will be asked to approve an amendment to the securities allowing the company to redeem them at a price of C$1,010 per C$1,000 principal amount.

That price represents a 22% premium to the 20-day weighted average trading price of the convertibles.

The proposed redemption is planned in conjunction of the acquisition of Basis100 by First American Corp. Basis100 is a Pittsburgh-based provider of data and analytics to the mortgage industry. First American is a Santa Ana, Calif., provider of business information.

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