RS Technologies Repays $25 Million Principal Amount of 8.5% Unsecured Debentures Due October 7, 2010 and Accrued and Unpaid Inte
Date : 10/07/2010 @ 5:52PM
Source : PR Newswire
Stock : RS Technologies Inc. Ordinary Shares (Canada) (RSSYF)
Quote : 0.019 0.0 (0.00%) @ 4:43PM
RS Technologies Repays $25 Million Principal Amount of 8.5% Unsecured Debentures Due October 7, 2010 and Accrued and Unpaid Inte
RS Technologies Inc. Ordinary Shares (Canada) (USOTC:RSSYF)
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Today : Friday 8 October 2010
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RS Technologies Inc. ("RS") (RS - TSX), a technology innovator and manufacturer of advanced composite products for infrastructure markets, announced that it has issued 1,136,529,575 common shares of RS today to satisfy its obligation to repay all of the $25 million principal amount of 8.5% unsecured convertible debentures of RS due on October 7, 2010 (the "Unsecured Debentures") and the accrued and unpaid interest thereon. As required by the TSX, RS obtained approval of the common shares issued in respect of the satisfaction of the principal amount of the Unsecured Debentures by way of written consent of shareholders (excluding directors of RS who, directly or indirectly, owned or controlled, Unsecured Debentures) holding a majority of the common shares of record as at August 17, 2010. RS has approximately 1.36 billion common shares issued and outstanding following the share issuance.
