Situation for the company makes the drop in gold prices. If in May 2011, the price oz precious metal was about 1900 dollars, it is now this value to 40% below and is estimated in 1170 dollars.At the same time, shares the Petrоpаvlоvsk over the past four years, has fallen to 98 % .
In such circumstances the company proposed convertible bond holders redeem them at the new paper with a period of repayment in October 2019. Petrоpаvlоvsk also agreed to increase the rate of coupon securities from 4 to 7.5 per cent per annum.
The Consortium also includes the leap )and invites Petrоpаvlоvsk draw company financing. Investors offer companies to hold in favor of them for additional shares in the 150 - 250 million dollars.Shares for such a transaction, it is anticipated, will be deployed at a discount to the current market quotation.
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