Ann: Partial Conversion of Convertible Bonds, page-45

There was a recent discussion about Mt K bonds already being factored into SP and that conversion would not impact the SP. While I believe this has some merit, such as the market already knows about the bonds, what is not factored in is the price Mt K on sell shares form the converted bonds. On selling the shares at a discount to the SP at the time clearly has an negative impact on SP as yesterday's SP action revealed.
I think we will have an idea what price Mt K sold the converted bond shares for when the SP stops falling IMO. This can be confirmed with the ceasing to be substantial holder notice I assume will be received within next 7 days or so.