Ann: Chairman's Letter to Noteholders, page-157

"The conspiracy part (that is yet to be proven or unproven) is about the timing of the executed sale and purchase agreement to reset date of 31 October 2015. Had the ASX not have enforced the suspension, AZZ may very well have traded above $0.67 and noteholders may well have converted into their notes into shares alleviating AZZ's liquidity concerns "

This theory is an insult to the intelligence of noteholders. You are trying to tell me that a rational noteholder having watched the stock go from 10c to somewhere well north of 67c given it would have to be a big premium to 67c to even consider converting as that is the price they would be buying them at ,would rush out and convert their notes into equity at 7 times what the price was the week before, forgoing their interest payments which is why they invested in the notes in the first place. Give me a break!