Paramount Energy Trust, to date, has 4 series of Convertible Extendible Unsecured Subordinated Debentures listed on the TSX under the symbols "PMT.DB" (8%, Issued July 30, 2004),"PMT.DB.A" (6.25%, Issued April 8, 2005), "PMT.DB.B" (6.25%, Issued March 30, 2006) and "PMT.DB.C" (6.50%, Issued June 12, 2007). Detailed information by prospectus is available by following the links provided.
Convertible Debentures
| TSX Symbol | Date Issued | Interest Rate per annum | Original Issue Amount | Maturity Date | Conversion Privilege |
July 30, 2004
| 8% per annum payable semi-annually: March 31 and Sept. 30 commencing March 31, 2005 | $48,000,000 | September 30, 2009 | $14.20 per Unit, being a conversion rate of 70.4225 Units per $1000 principle amount of Debentures | |
April 8, 2005 | 6.25% per annum payable semi-annually: June 30 and Dec. 31 commencing June 30, 2005 | $100,000,000 | June 30, 2010 | $19.35 per Unit, being a conversion rate of 51.6796 Units per $1000 principle amount of Debentures | |
March 30, 2006 | 6.25% per annum payable semi-annually: April 30 and Oct. 31 commencing Oct. 31, 2006 | $100,000,000 | April 30, 2011 | $23.80 per Unit, being a conversion rate of 42.0168 Units per $1000 principle amount of Debentures | |
June 12, 2007 | 6.50% per annum payable semi-annually: June 30 and Dec. 31 commencing Dec. 31, 2007 | $75,000,000 | June 30, 2012 | $14.20 per Unit being a conversion rate of 70.4225 Units per $1000 principle amount of Debentures |
Conversion Privilege: The Debentures are convertible into Paramount Energy Trust units at the option of the holder at any time prior to the close of business on the earlier of the maturity date, being the Initial Maturity Date or the Final Maturity Date, as applicable, and the business day immediately preceding the date specified by the Trust for redemption of the Debentures. Holders converting their Debentures will receive accrued and unpaid interest to the date of the conversion. |
Redemption: The Debentures will not be redeemable on or before 2 years before the Maturity Date and after that date and prior to maturity, the Debentures may be redeemed, at the option of the Trust with 30 to 60 days notice. In addition to the redemption price, any accrued or unpaid interest at the date of redemption will also be paid. |
Payment upon Redemption or Maturity: On redemption or at the maturity date, the Trust may, at its option subject to regulatory approval and with 30 to 60 days notice, pay the applicable redemption price or the principle amount of the Debentures by issuing Trust Units. The amount of Units issued will be determined by dividing the redemption price or the principle amount outstanding by 95% of the current market price on the date fixed for redemption or the maturity date. No fractional Units will be issued but in lieu the Trust will satisfy fractional interests by a cash payment equal to the current market price of any fractional interest. |
Please review the links above for each of the applicable redemption prices and dates as outlined in each prospectus. |