announcement re convertible bonds

Sounds very positive imo. Yes lowering the conversion price from 20c to 10c does mean it will be potentially more dilutionary for existing shareholders if and when bondholders convert to shares but far more important for PHG at the moment is that it would remove the need to try and borrow $2 mill to pay the bond holders out at the end of June. Not the climate for that right now. I still think once Gympie hospital sorted out and balance sheet looks better it is an absolute takeover target. I will keep accrueing on any weakness at these levels.