Travel24.com holders agree to extend term of convertibles

By Jennifer Chiou

New York, May 16 - Travel24.com AG announced that holders of a majority of its 2005/2008 zero-coupon convertible bonds approved the extension of the bonds' term to July 14, 2010.

A meeting of the creditors took place on Friday.

In addition, holders of €3.5 million of bonds agreed on an interest-free extension until July 20, 2010.

Travel24.com said that this enables it to pursue its increasingly positive development without repayment requirements over the next two years.

Based in Munich, Germany, Travel24.com offers travel information, package tours, flights and rental cars.

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