Oct 7 (Reuters) - Clearwater Seafoods Income Fund:
* Announces proposal to amend terms of 7% convertible debentures
* Intends to seek approval to amend terms of of 7% convertible unsecured
subordinated 2010 debentures
* Agreement proposes conversion price to be reduced from $12.25/unit to
$3.25/unit
* Maturity date will be extended from December 31, 2010 to December 31, 2013
* Proposed amendments provide debentureholders with interest rate will be
increased from 7.0% to 10.5%
* Clearwater seafoods -co has executed lock-up agreements with several of the
largest holders of its convertible debentures
* Under lock-up agreements, holders have agreed to vote in favour of revised
terms
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* Announces proposal to amend terms of 7% convertible debentures
* Intends to seek approval to amend terms of of 7% convertible unsecured
subordinated 2010 debentures
* Agreement proposes conversion price to be reduced from $12.25/unit to
$3.25/unit
* Maturity date will be extended from December 31, 2010 to December 31, 2013
* Proposed amendments provide debentureholders with interest rate will be
increased from 7.0% to 10.5%
* Clearwater seafoods -co has executed lock-up agreements with several of the
largest holders of its convertible debentures
* Under lock-up agreements, holders have agreed to vote in favour of revised
terms
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.