Pursuant to a Plan of Arrangement (the "Plan") approved by the Court of Queen's Bench of Alberta in a final order dated June 17, 2010, a series of transactions took place on June 30, 2010 in order to effect the conversion of Paramount Energy Trust ("PET") into a corporation, Perpetual Energy Inc. ("Perpetual"). As part of the Plan Perpetual Energy assumed all of the liabilities of Paramount Energy Trust.
Perpetual Energy has 2 series of Convertible Extendible Unsecured Subordinated Debentures listed on the TSX under the symbols "PMT.DB.D" and "PMT.DB.E".
|
TSX |
Date Issued |
Interest Rate |
Original |
Current Amount Outstanding |
Maturity Date |
Conversion Privilege |
| Dec 7, 2009 | 7.25% per annum payable semi-annually: Jan 31 and Jul 31 |
$100 Million |
$100 Million | Jan 31, 2015 | $7.50/Share | |
| PMT.DB.E | May 17, 2010 | 7.00% per annum payable semi-annually: Jun 30 and Dec 31 | $60 Million | $60 Million | Dec 31, 2015 | $7.00/Share |
Conversion Privilege
The debentures are convertible into Perpetual Energy shares at the option of the holder at any time prior to the close of business on the earlier of the maturity date, being the initial maturity date or the final maturity date, as applicable, and the business day immediately preceding the date specified by Perpetual Energy for redemption of the debentures. Holders converting their debentures will receive accrued and unpaid interest to the date of the conversion.
Please review the links above for each of the applicable redemption prices and dates as outlined in each prospectus.