Who holds the convertible bonds? I keep asking this question. Prior to the move to Singapore the bonds were issued in Singapore and my gut tells me the move and the bond issue is linked.
The bonds convert if Linc cannot pay, if the SP is low then they will massively dilute existing holders when they convert to repay the debt.
My guess is that the bond holder/s might attempt a shorting campaign on the stock prior to conversion to attempt to gain control of Linc.
Is Bond a convertible bond holder I wonder? Genting Maybe? Abamovich? Akhmetov?
SGX Enquiry, page-8
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