Revenue Properties holders convert C$26.276 million 7% debentures ahead of redemption

By Caroline Salls

Pittsburgh, Feb. 23 - Revenue Properties Co. Ltd. said holders of C$26.276 million of its 7% convertible subordinated debentures elected to convert their debentures into 2,157,305 shares of the company's common stock prior to redemption.

Holders of C$53.424 million of debentures opted for redemption at a price of par plus accrued interest.

The company now has 11,026,829 shares of stock outstanding.

Revenue Properties is a Toronto-based real estate company.

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