That's a possibility, but would take some time to play out. But, I'm assuming that the market would get a heads up if and/or when the conversion takes place, be it in 10% blocks or not.
'At the request of Majority Bondholders, the Company shall from time to time as soon as practicable call a general meeting of shareholders to seek approval for issuance to the Bondholders of the Shares issuable upon exercise of the Warrants and/or conversion of the Bonds, and prepare a circular for shareholder approval of such issuance.'
"The Chinese must raise prices", page-8
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