Business
Taiga Building Products Ltd. Announces the Resumption of Monthly Subordinated Note Interest Payments
Taiga Building Products Ltd. Announces the Resumption of Monthly Subordinated Note Interest Payments
About this update from Taiga Building Products Ltd.
[{"type":"text","content":"\n\n\n\nJan. 13, 2010 (Canada NewsWire Group) -- BURNABY, BC, Jan. 13 /CNW/ -- Taiga Building Products Ltd. (\"Taiga\" or the \"Company\") is pleased to announce that due to strengthening cash flows, it will be resuming interest payments on its 14% subordinated notes, including monthly interest on deferred interest, as per Section 2.04 of the Note Indenture dated as of September 1, 2005. Interest deferred from March 1, 2009 through November 30, 2009, including interest on deferred interest, will be paid by September 1, 2010 as per Section 2.04 of the Note Indenture. The Board of Directors may choose to pay interest prior to September 1, 2010 subject to cash flow considerations.The first reinstated interest payment date will be January 15, 2010, with respect to interest, and interest on deferred interest, accruing for the month of December 2009.Forward-Looking Statements:This press release contains certain forward-looking information and statements relating, but not limited, to future events or performance and strategies and expectations of Taiga. Forward-looking information typically contains statements with words such as \"consider\", \"anticipate\", \"believe\", \"expect\", \"plan\", \"intend\", \"likely\", \"may\", \"will\", \"should\", \"predict\", \"potential\", \"continue\" or similar words suggesting future outcomes or statements regarding expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Examples of such forward looking statements within this press release include statements relating to: our anticipated results of operations, including cost reduction savings; our expectations regarding market conditions; the sufficiency of our cash requirements and our ability to remain in compliance with our debt covenants. Readers should be aware that these statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements.These forward-looking statements reflect management's current expectations or beliefs and are based on information currently available to Taiga and although Taiga believes it has a reasonable basis for making the forward-looking statements included in this document, readers are cautioned not to place undue reliance on such forward...