Easy to say now. Point was there were three sets of oppies largely unconverted and many of those were available/taken up by retail investors too.
Pointless having them fin the first place if the aim is to not get them converted by its holders.
The fact that JW couldn't answer whether the company was committed to getting these in the money probably indicates they never were a priority in the first place.
They should have been imo for benefits of company finance, rewarding loyal holders and minimising future CR's at lower prices.
Ann: Update - Application for quotation of securities - LPD, page-33
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