Southern Energy (TSE:SOU) has released an update.
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Southern Energy Corp. has announced its plan to issue 745,391 common shares as an alternative payment method for the interest due on June 30, 2024, to the holders of its 8% convertible unsecured subordinated debentures. The common shares will be distributed at a price determined by the average trading price over the 20 days preceding the interest payment date. Following the issuance, the company’s common shares in circulation will increase to a total of 167,242,824.
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