Call-Net Enterprises Inc -
Call-Net's Juri Koor and Vincent Salvati resign; noteholders receive extension
Call-Net Enterprises Inc CN.B
Shares issued 59,725,914 1999-10-13 close $8.7
Thursday Oct 14 1999
Ms. Jill Homenuk reports
Effective immediately, Juri Koor, president and chief executive officer, and Vincent Salvati, senior vice-president and chief financial officer, have left the company.
Kevin Bennis, senior vice-president and chief operating officer, has been appointed president and chief executive officer.
Mr. Eric Rosenfeld of Crescendo reports
Crescendo Investments LLC, the general partner of Crescendo Partners, LP, has extended the expiration date for the consent solicitation has been extended from 11 a.m. ET on Oct. 14, 1999, to 12 p.m. ET on Oct. 21, 1999, in order to give noteholders an opportunity to review Call-Net's results of operations for the third quarter due to be released on Oct. 19, 1999.
This extension is to allow noteholders wishing to consent to the one-time waiver additional time to submit their consents.
9.27 per cent senior discount notes due 2007;
8.375 per cent senior notes due 2007 (Canadian dollar issue);
8.94 per cent senior discount notes due 2008;
8.00 per cent senior notes due 2008;
10.8 per cent senior discount notes due 2009;
9.375% senior notes due 2009.
Holders can consent by delivering the revised letter of consent or the original letter of consent attached to the consent solicitation statement dated Sept. 28, 1999, to the tabulation agent prior to the expiration date. Any holder of notes who has previously consented to the waiver need not take any further action in order to effect a valid consent of such notes and such holder will receive the higher consent fee.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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