Minmetals calls HK$73.5 million of 0% convertibles issued by First Harvest

By Laura Lutz

Chicago, Oct. 19 - Minmetals Resources Ltd. announced a clean up call of the HK$73.5 million outstanding zero-coupon guaranteed convertible bonds due 2011 issued by First Harvest Ltd. and convertible into ordinary shares of Minmetals, according to a news release.

The bonds were originally issued in principal amount of HK$1 billion.

Under the terms of the bonds, they may be called if less than 10% of the original principal amount remains outstanding. As of Oct. 18, 7.35% of the original principal amount was outstanding.

Holders may convert the bonds until Nov. 13 at the conversion price of HK$2.95 per share.

The closing price of Minmetals shares on Oct. 18 was HK$7.27 (Hong Kong: 1208).

Any bonds that are not converted will be redeemed on Nov. 22.

Minmetals is a trader of non-ferrous metals and a manufacturer and distributor of aluminum and copper products.

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