Ann: Capital Raising Presentation correction-ELD.AX, page-8

From the prospectus:

1. If Futuris elects to Convert, Holders will receive Ordinary Shares in Futuris with an aggregate market value (based on a 2.5% discount to the volume weighted average price (VWAP) of Ordinary Shares in Futuris on ASX over the preceding 20 trading days) equal to the Issue Price of the Futuris Hybrids plus any unpaid Distributions during the preceding 12 months (see clause 7 of the Terms for details).
   
   The conversion rate may be adjusted if there is a takeover bid or scheme (see below).
   
   If Futuris elects to Resell, Futuris may sell a Holder’s Futuris Hybrids to a third party and deliver to the Holder proceeds at least equal to $100 plus any unpaid Distributions during the preceding 12 months.