AED Oil adds put dates, lowers conversion price of 9% convertibles

By Marisa Wong

Madison, Wis., Jan. 19 - AED Oil Ltd. reached an agreement with the trustee of its $21,217,500 of 9% convertible notes due July 2012 on Tuesday to adjust the exercise price and to grant two new put options to holders of the 9% convertible notes, according to a company news release.

The amendments took effect on Tuesday.

The exercise price was lowered by 10% to A$0.55.

The additional put dates are July 10, 2011 and Jan. 10, 2012.

The new put dates will give noteholders a chance to see the results of the company's upcoming testing program at Block L in Brunei and other expected corporate developments before deciding whether to put back their convertibles, the release noted.

The issuer is a Melbourne, Australia-based oil company.

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