Issuer's Early Redemption (Call Option)::Mandatory
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Issuer's Early Redemption (Call Option)::Mandatory Issuer & Securities
Issuer/ Manager GOLDEN AGRI-RESOURCES LTDAnnouncement Details
Disbursement Details
GAR51-06-10-2015-Issuer-call-option.pdf Total size =246K
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6/10/2015
Notice is hereby given to the holder(s) of the Bonds ('Bondholders') that the Company is exercising its option under Condition 8.2.2 of the terms and conditions of the Bonds ('Terms and Conditions') to redeem all outstanding Bonds in whole on 6 November 2015 ('Option Redemption Date') at their principal amount together with accrued interest as the aggregate outstanding principal amount of the Bonds as at the date of this Announcement is less than 10 per. cent of the aggregate principal amount originally issued.
Unless otherwise defined, capitalized terms used in this Announcement shall have the same meanings as defined in the Terms and Conditions.
A summary of the details of this redemption is set out below:
Conversion Price as at the date of this Announcement: | S$0.86 per Share (as adjusted with effect from 8 May 2015) |
Closing price of Shares as quoted on the Singapore Exchange Securities Trading Limited as at 5 October 2015, being the latest practicable date prior to the date of this Announcement: | S$0.35 per Share |
Aggregate principal amount of the Bonds outstanding as at the date of this Announcement: | US$1,000,000 |
Aggregate principal amount of the Bonds to be redeemed: | US$1,000,000 |
Option Redemption Date: | 6 November 2015 |
Pursuant to the Terms and Conditions, the Bonds will be redeemed at their principal amount together with accrued interest on the Option Redemption Date.
Payment in respect of the Bonds will be made by deposit of immediately available funds by or on behalf of the Company with Euroclear Bank S.A./N.V. and Clearstream Banking, société anonyme for the account of the relevant Bondholders on the Option Redemption Date.
By Order of the Board
GOLDEN AGRI-RESOURCES LTDRafael Buhay Concepcion, Jr. Director
6 October 2015
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