COM DEV to redeem C$18 million convertible debentures

By Jennifer Chiou

New York, May 5 - COM DEV International Ltd. announced the redemption of its C$18 million of 6.75% convertible debentures due Dec. 31 on June 22.

The redemption price for each C$1,000 of debentures will be C$1,032.178, which includes C$32.178 of accrued interest.

Holders may convert their debentures into COM DEV chares at a price of C$3.15 up to June 21.

The company said that the recent strength of its share price contractually requires the early redemption of the debentures.

The securities were issued Dec. 6, 2001.

Based in Cambridge, Ont., COM DEV designs and manufactures space hardware subsystems.

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