Nortem cancels debentures, warrants in exchange for cash

By Sheri Kasprzak

Atlanta, March 8 -- Nortem NV said it has cancelled debentures and warrants in exchange for cash.

The company terminated its 8% convertible debentures due Feb. 15, 2007 and its 6.5% debentures due June 16, 2008 as well as warrants associated with both debentures in exchange for a cash payment.

The securities were exchanged at a price equal to $4.65 each.

The holders of the debentures and warrants will not receive any other payment in connection with the liquidating distributions.

Based in Wijchen, The Netherlands, Nortem is an outsourcer of marketing, sales and support to semiconductor companies.

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