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There is VWAP on conversion but has a floor price of minimum 15c , now 15 % was reduced by agreement from 20% , conversion price 15c per share , that must be painful but justifiable if the loan amount was not reduced but payment extended to 11th July , there is no announcement making any change to the floor price.

Anteo Conversion Shares Terms – Election Period is on a semi-annual basis
from Completion through to the last payment date. The conversion price will be
based on a 20% discount to the 30 day VWAP prior to election (with an agreed
floor conversion price of $0.15 per share). The Conversion Price will be converted
into Euro based on the 10 business day average of the AUD:EUR exchange rate
prior to election. Shareholder approval for issuance of the Conversion Shares will​

be obtained if required;