Convertible Notes Info, page-3

Congratulations on your first post shares4tune. Dalque43 is correct, the notes can be converted at anytime so it's not as though this is a new issue for AZZ.

See page four of the prospectus where it says:

Outstanding Convertible Notes may be converted into Ordinary Shares at the option of Noteholders at any time prior to the Maturity Date Each Ordinary Share issued on conversion will rank equally with all existing Ordinary Shares on issue.

Further to this on the same page, it says that:

"Amity has the option to redeem some or all of the Convertible Notes at per Convertible Note prior to the Maturity Date on the occurrence of certain events (including a takeover bid for all of the Ordinary Shares a scheme of arrangement or the Board of Amity resolving that an adverse Change in Law has occurred) and on each Reset Date."