First Capital Realty Inc. will delist its 6.25-per-cent convertible unsecured subordinated debentures due Dec. 31, 2016, from the Toronto Stock Exchange at the close on Monday, Oct. 1, 2012, according to the TSX. The TSX reports the company will redeem the debentures (FCR.DB.C) for shares. It will calculate the number of shares to be issued per $1,000 principal amount by dividing the aggregate principal amount payable in cash per $1,000 principal amount on the redemption date (Sunday, Sept. 30, 2012) by 97 per cent of the volume-weighted average trading price of the shares on the TSX for the 20 consecutive trading days ending on Sept. 24, 2012. The company also plans to pay the interest due on the debentures at redemption with shares. Holders can also convert their debentures into First Capital shares at $14.313 per share before the close of business on Sept. 28, 2012. This represents 69.867 shares per $1,000 principal amount of debentures. Buyers of the debentures on Sept. 28, 2012, that want to convert them into shares should make their purchases before 12 p.m. on Sept. 28, 2012, to ensure adequate time for settlement.
The TSX reports that all trades in the debentures completed on Sept. 26, 2012, will be for special settlement on Sept. 28, 2012. All trades completed on Sept. 27, 2012, will settle on the next day in cash. All trades completed on Sept. 28, 2012, will settle on the same day in cash.
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