Protection One pays on belated due date; elects Enis as chairman
TOPEKA, Kan. - Protection One has announced that it has made a semi-annual interest payment of approximately $7 million on the outstanding $190.9 million aggregate principal amount of its Ã¢â‚¬â€œ7 3/8 percent senior notes due in 2005.
The commercial and residential security service provider had previously deferred payment, which was due on February 17, to re-evaluate the potential effects of Westar IndustriesÃ¢â‚¬â„¢ sale of its 87 percent interest in the company. Under the terms of the indenture governing the senior notes, Protection One has a 60-day grace period from the date such interest payments are due.
In other news, the company also announced that the board of directors has elected Ben Enis as chairman of the board. Enis has been a member of Protection OneÃ¢â‚¬â„¢s board since1994.