FIRST Pacific Co is redeeming all of its outstanding convertible shares today at US$5,270 each. The price includes an amount equal to the fixed dividend accrued up to and including today, on top of the set price of $5,100 per share which represents 102 per cent of the capital and premium paid up on their issue. The value of the ordinary shares of the company, excluding fractional entitlements, into which the issue amount ($5,000) of each convertible share is convertible, is $6,991.
