WesternOne issues stock to redeem $196,000 remaining 8.5% convertibles

By Susanna Moon

Chicago, March 20 - WesternOne Inc. said it completed the redemption of its 8.5% convertible unsecured subordinated debentures due Dec. 31, 2015.

There was $196,000 principal amount of the convertibles outstanding at the close of business on March 19, the last day holders could convert the notes into shares, according to a press release.

The company said it issued 28,149 common shares for the redemption, and the convertibles will be delisted from the Toronto Stock Exchange at the close of business on Thursday.

WesternOne said on Feb. 7 that it called its $3,292,000 of 8.5% convertibles for redemption at $1,018.40 per $1,000 principal amount on March 20.

Vancouver, B.C.-based WesternOne acquires and grows businesses in the construction and infrastructure services sectors.

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