Atari SA: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Atari SA announces approval of its restructuring plan in the United States and plan to issue 25 million-euro convertible bond
Atari SA:Says its plan for the reorganization of its American subsidiaries was approved by the Bankruptcy Court in New York.Says the terms of the plan include retaining the main assets such as the Atari brand and the back catalog, repaying 25 percent of the subsidiaries' debts up to a maximum of $1.75 million and reducing the subsidiaries' workforce to fewer than 10 employees.Says Frederic Chesnais agreed to personally provide a $3.419 million guarantee to assure all concerned parties that the plan is financially viable.Says it is calling a Mixed General Shareholders' Meeting to obtain authorization for an issue of convertible bonds (OCEANEs) worth 25 million euros.Says the bonds would have a nominal value of 0.25 each, would pay an annual coupon of 10 percent and would be convertible on a basis of 0.25 euro per share.Says the amount of the issue could be increased by 15 percent if there is excess demand.
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