What were CALS?
“CALS” were 1 units of Capital Amortising Loan Stock which were issued to former GEC shareholders at the time of the merger of the MES business with British Aerospace plc on 29 November 1999. The CALS yielded an annual interest payment on 29 November of 7.45% on the outstanding principal amount. In addition, the CALS were partially redeemed by the Company on an annual basis between 29 November 2000 and 28 November 2003 in the following tranches: 29 November 2000 22.373% of the Original Principal Amount 29 November 2001 24.040% of the Original Principal Amount 29 November 2002 25.831% of the Original Principal Amount 28 November 2003 the balance of the Original Principal Amount The CALS were fully redeemed on 28 November 2003 and there are no further interest or capital repayments due to be made. The CALS ceased to trade on the London Stock Exchange on 28 November 2003.
Related Questions
- If a customer wants to upgrade from Small Business Server Standard R1 to Small Business Server Premium R2, can they keep the same CALs?
- If a company has remote workers and they access the database via a VPN, do they require TS CALs?
- Are SQL CALs required when only an application is being deployed on an SQL Server?
