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.
