Correct, July 20 will be an interesting day. The 1 week/month timings are a matter of detail, but I'd say that Metgasco have the upper hand there. Reading this I'd say that Byron can elect to repay, but we can convert within their notice window.
viii. Convertible at Metgasco’s election after eighteen months from initial drawdown with one week’s notice at a 10% discount to the then prevailing 30 day volume weighted average price (VWAP) of Byron’s shares;
ix. Repayable early by Byron with one month’s notice at any time after eighteen months from initial drawdown at 105% of outstanding (along with any accrued interest and line fee);
Perhaps you were closer to the deal and can enlighten us???
MEL Price at posting:
5.5¢ Sentiment: Hold Disclosure: Held
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