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Aston Hill Announces Completion of Corporate Reorganization Including Approval of Debenture Amendments and Date of Partial Redemption
Aston Hill Announces Completion of Corporate Reorganization Including Approval of Debentur...
About this update from Flow Capital Corp.
[{"type":"text","content":"\n\n\n\nAston Hill Announces Completion of Corporate Reorganization Including Approval of Debenture Amendments and Date of Partial Redemption\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.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n\n\n\n\n\n\nAston Hill Announces Completion of Corporate Reorganization Including Approval of Debenture Amendments and Date of Partial Redemption\nCanada NewsWire\nTORONTO, Oct. 29, 2015\n\n\n\nTORONTO, Oct. 29, 2015 /CNW/ - Aston Hill Financial Inc. (\"Aston Hill\" or the \"Company\") announces that holders of its 6% convertible unsecured subordinated debentures due July 31, 2016 (the \"Debentures\") approved the previously announced amendments to the Debentures (the \"Amendments\") at a special meeting held today.  The resolution approving the Amendments was passed by 93% of the votes cast in person or by proxy at the meeting. As a result, the trust indenture dated July 27, 2011 governing the Debentures (the \"Indenture\") will be amended to extend the maturity date of the Debentures from July 31, 2016 to January 31, 2019, reduce the conversion price from $2.55 per share to $0.65 per share, increase the interest rate from 6.00% to 6.50% per annum effective November 16, 2015, and other than with respect to the previously announced partial redemption (the \"Partial Redemption\"), restrict the Company from exercising its right to redeem any Debentures until July 31, 2017.\n\nCompletion of Corporate Reorganization\n\nThe approval of the Amendments is an important component of the Company's recapitalization initiatives, which formed part of the broader corporate reorganization. With these initiatives complete, the Company can focus on executing its strategic business plan and increasing marketing and sales efforts, including its strategies specifically focused on Ben Cheng1, as he will begin managing investment funds exclusively for Aston Hill as of November 2, 2015.\n\n\"2015 has likely been the most significant year in our company's history,\" said Chief Executive Officer (Interim), Peter Anderson. \"The on-going investments we have made to create a...