Yes, refer to my post at ALZ. I think boards would do considerably less damage to share price by issuing shares to players who want stock exposure through a book build rather than redeem shares to those who everyone knows will just turn around and fill the market in. Just the thought of note holders diluting and filling in the bid would cause the share price to crash. I reckon the first you would hear of it is a trading halt to book build to raise funds to redeem pref shares so no further damage to stock price could be done. Just my ideas
goodluck
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