It seems as though 100 par value of URFPA can be exchanged for 205 regular units by the company.
I was actually unaware of this when I purchased the preference shares. Could someone explain what would influence the company to want to exchange for shares, as opposed to paying out cash upon redemption? It sounds like it would dilute the equity in the company drastically.
Also, when the preference shares were trading in the low 50's (and even now), why wouldn't the company get an extra 100 million from the bank, and buy back their preference shares on the open market? They would be retiring debt at a higher interest rate, and also getting it at a huge discount.
It seems as though 100 par value of URFPA can be exchanged for...
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Last
29.0¢ |
Change
-0.005(1.69%) |
Mkt cap ! $209.9M | |||
| Open | High | Low | Value | Volume |
| 29.5¢ | 29.5¢ | 29.0¢ | $60.16K | 204.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 273528 | 29.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 29.5¢ | 311409 | 5 |
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| Last trade - 14.59pm 22/05/2024 (20 minute delay) ? |
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Last
29.3¢ |
Change
-0.005 ( 0.85 %) |
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| Open | High | Low | Volume | ||
| 29.3¢ | 29.3¢ | 29.3¢ | 5944 | ||
| Last updated 13.38pm 22/05/2024 ? | |||||
| URF (ASX) Chart |