TORONTO, Nov. 30, 2020 /CNW/ - Baylin Technologies
Inc. (TSX: BYL) (TSX: BYL.DB) today announced
that it has mailed the following notice to the holders of its
convertible debentures.
To: Holders of $17,250,000 6.5%
Extendible Convertible Unsecured Debentures due July 10, 2023 of Baylin Technologies Inc.
Subject: Payment of Interest in Common Shares
We, Baylin Technologies Inc., are offering holders of our 6.5%
Extendible Convertible Unsecured Debentures (the
"Debentures") an option to elect to receive our common
shares in payment of interest due on the Debentures on the interest
payment date on December 31, 2020 as
an alternative to cash interest.
This option, which is entirely voluntary, is part of our
continuing efforts to meet the economic and business challenges
brought on by the Covid-19 pandemic by reducing costs and
preserving cash. Holders who exercise the option will receive
common shares at 85% of their current market price on the
December 31 interest payment date;
however, the shares will be subject to a restriction on resale for
a period of four months after that date.
Holders who do nothing will receive their regular interest
payment in cash on December 31,
2020.
If you would like to consider this option, please contact our
Corporate Secretary at philip.mohtadi@baylintech.com by
December 10, 2020 for more
information about how to elect this option. In order to elect this
option, you must sign an agreement with us and instruct your broker
or dealer (through which you hold your Debentures) to make the
election on your behalf by contacting CDS (CDS Clearing and
Depository Services Inc.). The agreement is available from the
Corporate Secretary.
About Baylin
Baylin Technologies Inc. is a leading, diversified, global
wireless technology company. Baylin focuses on research, design,
development, manufacturing and sales of passive and active radio
frequency products and services. Baylin aspires to meet its
customers' needs and anticipate the direction of the market.
SOURCE Baylin Technologies Inc.