I'll quote the exact bit from the article re conversion:
"In return, Mt Kellett received $US225 million of Lynas convertible bonds. The bonds pay 2.75 per cent a year and were initially set up to be convertible at $1.25 a share before July 2016.
"But with Lynas shares at 18¢ and near a four-year low, it is understood Mt Kellett is investigating whether it could swap the bonds for shares at a lower price using a scheme of arrangement."
_______
It could read as a lower price to their initial conversion price, not to the current share price, but it is ambiguous.
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afr: mt kellett may convert debt into equity, page-9
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Open | High | Low | Value | Volume |
0.0¢ | $9.95 | $9.68 | $3.872M | 468.9K |
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No. | Vol. | Price($) |
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6 | 16881 | $10.20 |
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Price($) | Vol. | No. |
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$9.13 | 8137 | 4 |
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No. | Vol. | Price($) |
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2 | 524 | 10.190 |
1 | 10000 | 10.060 |
4 | 688 | 10.010 |
1 | 3000 | 10.000 |
Price($) | Vol. | No. |
---|---|---|
9.130 | 8137 | 4 |
9.240 | 372 | 2 |
9.250 | 3368 | 1 |
9.430 | 8 | 1 |
9.530 | 250 | 2 |
Last trade - 09.49am 18/07/2025 (20 minute delay) ? |
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