gnspa - gns could trump 1h if bought gnspa, page-18

i think that now GNSPA has become perpetual there is no limit on the number of shares. so they can be converted at anytime without a limit.....probably dividend suspension would happen first? like elders with its eldpa but that now trades at $55 so could be a guide to what happens with gnspa...the main positive i can see for GNSPA is that it is a small issue, only $125m so ranks straight behind debt and so would seem to have very good chance of payback in liquidation...but who knows...