Crown Cap (TSE:CRWN) has released an update.
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Crown Capital Partners Inc. seeks to amend the terms of its 10% unsecured subordinated debentures to extend the maturity date, increase the interest rate, and change the interest payment schedule, alongside a waiver for a missed interest payment. The proposed changes aim to improve the company’s position to meet its financial obligations and provide Debentureholders with a higher yield. A special meeting is set for October 18, 2024, to obtain Debentureholder approval.
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