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CHEMTRADE LOGISTICS INCOME FUND ENTERS INTO NEW AUTOMATIC SECURITIES PURCHASE PLAN
CHEMTRADE LOGISTICS INCOME FUND ENTERS INTO NEW AUTOMATIC SECURITIES PURCHASE PLAN Cana...
About this update from Chemtrade Logistics Income Fund
[{"type":"text","content":"\n\n \n \n \n CHEMTRADE LOGISTICS INCOME FUND ENTERS INTO NEW AUTOMATIC SECURITIES PURCHASE PLAN\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n June 21, 2024\n \n \n /CNW/ - Chemtrade Logistics Income Fund (TSX: CHE.UN) (\"Chemtrade\" or the \"Fund\") today announced that, in connection with its previously announced normal course issuer bid (\"NCIB\") to purchase up to 11,672,524 of its units, it has entered into a new automatic securities purchase plan (the \"ASPP\") with its designated broker.\n \n \n On\n \n June 20, 2024\n \n , Chemtrade announced its intention to commence a substantial issuer bid (the \"Offer\") pursuant to which the Fund will offer to purchase for cancellation up to all of its issued and outstanding 8.50% Convertible Unsecured Subordinated Debentures due\n \n September 30, 2025\n \n (the \"Debentures\") (CUSIP No. 16387PAK9). The purchase price under the Offer is\n \n $1,300\n \n in cash per\n \n $1,000\n \n principal amount of Debentures (the \"Purchase Price\"). In addition, holders of Debentures (each, a \"Debentureholder\") who tender and do not withdraw their Debentures under the Offer will receive a cash payment in respect of all accrued and unpaid interest on such Debentures up to, but excluding, the date they are taken up by the Fund pursuant to the Offer. The Offer will expire at\n \n 5:00 p.m. Eastern time\n \n on\n \n July 31, 2024\n \n , unless extended, varied or terminated by the Fund. The Offer will not be conditional upon any minimum number of Debentures being tendered.\n \n \n In connection with Chemtrade's announcement of its intention to commence the Offer, the automatic securities purchase plan that Chemtrade previously entered into with its designated broker in connection with the NCIB was automatically terminated in accordance with its terms. Chemtrade has entered into a new automatic securities purchase plan with its designated broker, that will allow for purchases of units during certain pre-determined blackout periods, subject to certain paramet...