Mullen Group Ltd. Plans Debenture Redemption
Mullen Group Ltd. has made an important announcement regarding its 5.75% convertible unsecured subordinated debentures. The corporation expressed its intention to redeem all outstanding debentures in full, showcasing its robust financial strategies and forward-looking approach.
Details of the Redemption
The redemption is scheduled for December 1, 2025. Mullen Group will pay a redemption price equal to 100% of the outstanding principal amount of $125 million, along with accrued and unpaid interest until the redemption date. This decision underscores Mullen Group's commitment to ensuring financial stability and liquidity for its operational needs.
Conversion Period for Debentures
It is important for debentureholders that the conversion of debentures into common shares will be available until 5:00 PM MST on November 21, 2025. The trustees will not transfer or exchange any debentures in the five business days preceding the redemption date, so holders are encouraged to act promptly to convert their holdings if they desire.
The Importance of Debentureholders Staying Informed
Mullen Group encourages all individuals holding debentures to consult their financial institutions for guidance on redemption instructions. This proactive step ensures they do not miss critical deadlines for conversion requests, which may be set ahead of the official cutoff time by their institutions.
About Mullen Group Ltd.
Mullen Group is a distinguished public company with a rich history in the transportation and logistics sectors. The company boasts one of the most comprehensive logistics portfolios in North America, providing a suite of services that range from transportation and warehousing to specialized hauling and logistical operations. With its expansive network of independently operated businesses, Mullen Group addresses diverse market needs, including sectors such as energy, mining, and construction.
Corporate Information
Mullen Group Ltd. is publicly traded on the Toronto Stock Exchange under the ticker symbol MTL. For in-depth information regarding the corporation's financial strategies, operations, and market offerings, potential investors and interested parties are invited to visit Mullen Group's official website for further insights.
Contact Mullen Group
For any inquiries, please reach out to the following corporate leadership team:
Mr. Murray K. Mullen - Chair, Senior Executive Officer and President
Mr. Richard J. Maloney - Senior Operating Officer
Mr. Carson P. Urlacher - Senior Financial Officer
Ms. Joanna K. Scott - Senior Corporate Officer
Address: 121A - 31 Southridge Drive, Okotoks, Alberta, Canada T1S 2N3
Telephone: 403-995-5200
Fax: 403-995-5296
Frequently Asked Questions
What is the redemption price for the debentures?
The redemption price is 100% of the outstanding principal amount, which totals $125 million, plus accrued and unpaid interest.
When is the redemption date set?
The redemption date is December 1, 2025.
How can debentureholders convert their debentures?
Debentureholders can convert their debentures into common shares until 5:00 PM MST on November 21, 2025.
What is the ticker symbol for Mullen Group Ltd.?
Mullen Group Ltd. is listed on the Toronto Stock Exchange under the ticker symbol MTL.
Who should debentureholders contact for further information?
Debentureholders should contact their financial institutions for redemption instructions and to ensure their requests are submitted on time.