Preference shares, maybe?
What would be most interesting is the source of the story. AFR trends to not make up stories out of thin air.
Would LYC sources test the water? Or maybe an inside financier who is involved in negotiations?
If Mt K were to convert then I'd think it would be at our below current price unless preference shares were involved.
Would it get a vote for another billion shares to be issued, being a 50% dilution?
Interesting times for next few weeks.
afr: mt kellett may convert debt into equity, page-3
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