Ann: Company Update, page-180

Clearly what is best for current shareholders is for the notes and rcp's to be redeemed and not converted- if a debt facility or rights issue is required management should do so -problem with a rights issue is the notes have to be redeemed within 10 days of the spa being unconditional (so maybe a better option for the rcps'). Test for management/directors as clearly there is a rather large conflict of interest- line their own pockets or do the right thing for all shareholders - hopefully they act in the best interest of the company owners -ie holders- i have my doubts though.