Convertible Bond Conversion Price Reset at .8cents.
from memory i think previous price was around 23 cents (which was reset from around 26cents).
Convertible Bond Conversion Price Reset
On 1 September 2006, Nido Petroleum Limited issued a US$22 million convertible bond
(Bond) to Merrill Lynch International (Australia) Limited. Please refer to the announcement
on that date and the subsequent announcement concerning the conversion price reset on 1
March 2007 for a summary of the terms and conditions of the Bond.
The latest reset date for the conversion price was 1 March 2009 and the conversion price
has now been reset to AU$0.08 per share. The Bond can still only be converted into a
maximum of 114,307,091 shares.
Yours faithfully
Jocot de Dios
President & CEO
merrill lynch very lucky
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