Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : ASIA PACIFIC RESOURCES -- Ignore unavailable to you. Want to Upgrade?

To: ROBROY who wrote (1385)	7/28/2000 8:56:24 AM
From: the Chief	Respond to of 1437

Asia Pacific Resources Ltd - Asia Pacific amendments agreed to by Olympus Asia Pacific Resources Ltd APQ Shares issued 54,399,705 2000-07-26 close $1.4 Thursday Jul 27 2000 An anonymous director reports Olympus Capital Holdings Asia I, LP, holds $17.56-million (U.S.) principal amount of 10-per-cent secured convertible debentures, Series 1, of Asia Pacific Resources Ltd., of which $24.46-million (U.S.) principal amount is currently issued and outstanding. The principal amount of the debentures may be converted by a holder thereof at any time prior to maturity. Pursuant to certain amendments made to the terms of the debentures effective July 20, 2000, Olympus will be entitled to receive, should it elect to convert the debentures held by it, up to 5,022,705 common shares in the capital of the issuer in addition to the 6,463,804 issuable on conversion under the prior terms of the debentures. The amendments to the debentures included, among other things, an extension of the maturity date of the debentures from Aug. 13, 2000, to Oct. 13, 2001, the pledge of additional security to secure the repayment of the debentures and a reduction in the conversion price of the debentures. The issuer has also agreed to indemnify Olympus in respect of any withholding tax which might be payable. The amendments were made pursuant to a private agreement between the issuer and all the holders of debentures. Olympus does not have any intention, at this time, to acquire any additional common shares either directly or indirectly. If the maximum number of common shares were issued to Olympus pursuant to the conversion of its debentures, Olympus would hold approximately 11,486,509 common shares or 17.93 per cent of the issuer's issued and outstanding common shares. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com