The Toronto Stock Exchange reports that Surge Energy Inc.'s 5.75 per cent convertible unsecured subordinated debentures will be halted at the open and delisted at the close on Oct. 28, 2022. According to the TSX, the company will redeem the debentures on Oct. 28, 2022, for $1,018.90 per $1,000 principal amount, representing $1,000 principal amount and $18.90 for accrued and unpaid interest thereon to, but excluding, the redemption date.
The TSX reports that the holders of the debentures have until 5 p.m. Calgary time on Oct. 27, 2022, to convert their debentures into common shares of the company at $23.22923 per share. This conversion price represents a conversion rate of approximately 43.0492 shares per $1,000 principal amount of debentures. The TSX notes that trades in the debentures on Oct. 26, 2022, and Oct. 27, 2022, will settle on Oct. 27, 2022.
For more information, see the company's news release dated Sept. 22, 2022.
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