Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Wapme Systems AG > News item |
Wapme to postpone repayment of convertibles for two days
New York, Jan. 17 - Wapme Systems AG said it will postpone repayment of its convertible bond to Jan. 20 from the scheduled Jan. 18.
The company said it has reached agreement with creditors owning more than 90% of the debentures for the company to buy the securities.
However the company cannot separately repay those bonds held by the remaining investors and the ones it owns, causing the delay.
Wapme said it has the amount available to repay the convertibles still owned by investors.
Interest will be paid for the additional period.
Wapme is a Düsseldorf, Germany-based provider of services and content for mobile phones.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.