From memory they have until 2016 to convert and in the meantime enjoy a coupon on their bonds so where is the incentive to convert to higher risk equity until such time as a dividend exceeds the coupon?
They can sit back on their higher tier bonds, with interest, and watch the SP appreciate for a couple of years.
Nice work, if you can get it.
mt kellett must be laughing-for now, page-6
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Last
$6.74 |
Change
-0.140(2.03%) |
Mkt cap ! $6.300B | |||
| Open | High | Low | Value | Volume |
| $6.75 | $6.83 | $6.72 | $13.84M | 2.049M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4099 | $6.74 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.77 | 3692 | 5 |
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| Last trade - 16.10pm 04/09/2024 (20 minute delay) ? |
| LYC (ASX) Chart |