Ann: Elders Announces Sale of Futuris Automotive , page-8

re: Ann: Elders Announces Sale of Futuris Aut... If ELDPA are forced to convert, then why would they convert at anything less than full value? Is there something in the docs that gives the board authority to convert at a lower value?

The only circumstance I can see where they convert at a discount is if there is an equity injection at the same time and it is conditional on a discounted conversion being accepted by ELDPA holders. If this is even possible?

I think a more likely scenario is an equity injection which is subject to ELDPA holders accepting cash at a discounted value.

Having said all that, the docs were written at the top of the market, with many conditions being strongly in favour of the company. Maybe, anything is possible!

Disclosure: ELDPA only