SR Telecom to redeem all 10% convertibles

By Jennifer Chiou

New York, Feb. 14 - SR Telecom Inc. announced the redemption of its remaining C$2,650,372 of 10% secured convertible debentures due Oct. 15, 2011.

The Montreal-based wireless data equipment company will redeem the debentures at par plus accrued interest on March 6 for a payment of $1,038.63 per $1,000 principal amount.

Holders may convert their debentures into common stock at C$0.15 per share until March 6.

The company's stock (Toronto: SRX) closed at C$0.18 on Tuesday.

SR Telecom said it originally issued $75,539,018 of the debentures on Aug. 22, 2005.

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