Faraday seeks share extension

A special meeting of common and preferred shareholders of Faraday Resources (TSE) is to be held on Oct. 30 to consider extending the conversion privilege attached to Faraday’s series A first preference shares until Oct. 31, 1994.

Each series A first preference share is convertible into three common shares at $5.50 per share until Oct. 31, 1992. Shares that are not converted may be retracted at $16.50 per share plus accrued dividends after Oct. 31, 1994.