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Mainstreet Equity Corp. provides notice of redemption of 7.25% of convertible unsecured subordinated debentures due 2011
Mainstreet Equity Corp. provides notice of redemption of 7.25% of convertible unsecured subordinated debentures due 2011.
About this update from Mainstreet Equity Corp.
[{"type":"text","content":"\n\n\n\nCALGARY, Oct. 9 /CNW/ - Mainstreet Equity Corp. ("Mainstreet" or the\n"Corporation") (TSX:MEQ) announces that notice is hereby given pursuant to the\ntrust indenture (the "Indenture") dated as of October 8th, 2004 between the\nCorporation and Computershare Trust Company of Canada (the "Debenture\nTrustee"), as trustee, that the aggregate principal amount of $17,834,000 of\nDebentures outstanding will be redeemed as of November 6, 2007 (the\n"Redemption Date"), upon payment of a redemption amount of $1,007.15 for each\n$1,000 principal amount of Debentures, being equal to the aggregate of (i)\n$17,961,513.10 (the "Redemption Price"), and (ii) all accrued and unpaid\ninterest hereon to but excluding the Redemption Date (collectively, the "Total\nRedemption Price").\n\n\nThe Total Redemption Price will be payable upon presentation and\nsurrender of the Debentures called for redemption at the following corporate\ntrust office:\n\n\nComputershare Trust Company of Canada\n\n\n600, 530 - 8th Avenue S.W.\n\n\nCalgary, Alberta\n\n\nT2P 3S8\n\n\nThe interest upon the principal amount of Debentures called for\nredemption shall cease to be payable from and after the Redemption Date,\nunless payment of the Total Redemption Price shall not be made on presentation\nfor surrender of such Debentures at the above-mentioned corporate trust office\non or after the Redemption Date or prior to the setting aside of the Total\nRedemption Price pursuant to the Indenture.\n\n\nAbout Mainstreet\n\n\nEstablished in 1997, Mainstreet is a Calgary-based, growth-oriented real\nestate corporation focused on the acquisition, redevelopment, repositioning,\nand asset and property management of mid-market apartment buildings. The\nCorporation currently owns and operates residential rental units, including\napartments and townhouses, in Vancouver/Lower Mainland (Surrey), Calgary,\nEdmonton, Saskatoon and Greater Toronto Area.\n\n\nMainstreet's common shares are listed on the Toronto Stock Exchange under\nthe symbol "MEQ". There are currently 11,910,393 common shares outstanding.\n\n\nCautionary Statement Regarding Forward-Looking Statements\n\n\nThis news release contains forward-looking statements based on\nassumptions, uncertainties and management's best estimates of future eve...