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TIC: Converting bonds into common shares
Tay Nguyen Electricity Investment Joint Stock Company (TIC) has informed converting 100% bonds issued in the second time 2007 into common shares as follows:
In May 2007, TIC issued convertible bonds to mobilize capital to construct the H’Mun hydropower plant which the company had signed a joint-venture contract with the Gia Lai Electricity Company.
Until now, the H’Mun hydropower plant has been put into operation. Convertible bonds for the second time 2007 issued in May 2007 are due for conversion into common shares:
- Volume for conversion: 371,993 bonds
- Face value of convertible bond: VND100,000
- Interest rate of convertible bond: 7.2%/year
- Total value: VND37,199,300,000
- Time of converting bonds into shares: 10th August 2010
- Par value: VND10,000/share
- Conversion rate: 1 bond = 10 shares
- Number of converted shares (49%): 3,719,930 shares
- Capital contribution of the Gia Lai Electricity Company (51%): 3,871,770 shares
- Total number of additional shares: 7,591,700 shares
- Total number of shares before conversion: 17,065,288 shares
In which:
+ Previous chartered capital: 16,582,600 shares
+ Bonus shares (3%): 482,688 shares
- Total number of shares after conversion: 24,656,988 shares
- Chartered capital after conversion: 246,569,880,000.
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