Convertible Debenture

Convertible debenture terms have been recently amended.  The new terms are summarized in the February 14, 2017 press release.

In May 2012, Zargon issued five-year convertible unsecured subordinated debentures for gross proceeds of $57.50 million that will provide support for Zargon’s Little Bow ASP project and other long-life oil exploitation projects.

Zargon has these convertible unsecured subordinated debentures listed on the TSX under the “ZAR.DB” symbol as summarized in the table below:

TSX Symbol Date Issued Interest Rate per Annum Original Issue Amount Maturity Date Conversion Privilege for each $1,000 principal amount converted Related Documents (PDF)
ZAR.DB
May 1, 2012
and
May 4, 2012
6.00% per annum, payable semi-annually,
June 30 and December 31
Interest payable commencing December 31, 2012
$50.0 million and
$7.5 million
June 30, 2017
$18.80/common share