Southern Energy (TSE:SOU) has released an update.
Southern Energy Corp. has announced its plan to issue 745,391 common shares as an alternative payment method for the interest due on June 30, 2024, to the holders of its 8% convertible unsecured subordinated debentures. The common shares will be distributed at a price determined by the average trading price over the 20 days preceding the interest payment date. Following the issuance, the company’s common shares in circulation will increase to a total of 167,242,824.
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