AVINDA DEBENTURES CONVERTED TO COMMON SHARES
<Avinda Video Inc> said its debenture
holders agreed to convert 3.3 mln dlrs of 13 pct subordinated
debentures to common stock at a conversion price of 40 cts a
share, subject to shareholder and regulatory approval.
    Avinda said the debt conversion will inject 3,140,000 dlrs
of equity into the company, increase net book value per share
to 22 cts from five cts, and reduce annual interest costs by
428,000 dlrs.
 Reuter
