Pyramid Saimira Theatre shareholders to consider $150 million convertibles issue

By Laura Lutz

Des Moines, March 29 - Pyramid Saimira Theatre Ltd. plans to convene an extraordinary general meeting to seek shareholder approval of an issue of foreign currency convertible bonds for up to $150 million.

Proceeds would be used to finance the company's expansion plans, including development of international theater chains, malls, and Indian multiplexes.

The meeting will be held on April 19.

Pyramid is a theater operator based in Chennai, India.

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