Monday, 27/08/2012 16:44

GMD: Gemadept issues US$40 million convertible debts

GEMADEPT Corporation has announced the issue of convertible debts to VI (Vietnam Investments) Fund II, L.P as follows:

1. Plan of convertible debt issue:

- Lender: VI (Vietnam Investments) Fund II, L.P 

- Loan amount: US$40 million.

- Loan type: in cash. The loan can be converted into GEMADEPT’s common shares.  

- Issue date: August 15, 2012.

- Payment method: paid in cash or-and by common shares

- Loan term: 05 years (no grace period)

- Loan interest: 6%/year, paid annually

- Expenses: none

2. Conversion plan:

The loan will be paid by converting into GMD shares:

- Stock type: common share

- Conversion deadline: The lender has the right to request to convert the loan into GEMADEPT’s common shares after one year from the effective date of the Convertible Loan Contract.

- Conversion price: 88% of the average market price of the stock during a month prior to the issue date.

 

HOSE

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