Bedlinens maker Dawson Intl to issue redemption notices
09 Dec '05
3 min read
Bedlinens producer Dawson International PLC is pleased to announce its aim to redeem the final tranche of its outstanding Loan Stock.
It will issue Redemption Notices to all Stockholders (other than small Loan Stock holders as below) (Qualifying Stockholders) of the Company's zero coupon, convertible, secured, redeemable Loan Stock 2009 (the Loan Stock) in respect of the early redemption of the remaining £2,756,757 of the Loan Stock (Tranche 3) in accordance with the conditions of the Loan Stock.
As announced on 25 November 2005 the Company is separately redeeming holdings of Loan Stock under £1,000, which redemption is due to be effected on 20 December 2005.
Redemption of Tranche 3 will be at a total cash cost to the Company of £3,823,874, comprising £2,756,757 of Loan Stock and £1,076,117 in respect of the accrued premium.
These figures will reduce to the extent that any Qualifying Stockholders exercise their right to convert their Loan Stock into ordinary share capital in the Company. Each Qualifying Stockholder will be repaid in full for every £1 of Loan Stock held as at Wednesday 7 December 2005.
In addition, there will be paid to Qualifying Stockholders an accrued premium at an annual rate of 26% from issue of the Loan Stock until Sunday 25 December 2005, being the date fixed by the Company as the date on which redemption will occur (Redemption Date).
The Redemption Notices will advise that each Qualifying Stockholder must, not later than the Redemption Date, deliver to the Company, care of its registrars, a certificate for its Loan Stock which is due to be redeemed, so that the certificate can be cancelled.
marketing@alchempro.com
