I honestly don’t think the people acquiring the converted bond shares are in much of a position to negotiate. If they want in, they can either buy at some discount to the market or buy on the market. I think the reason each conversion has been at progressively higher prices can be explained in the same way as the increasing pace of conversion...it’s time to get on board or miss the train.
Ann: Partial Conversion of Bonds and Appendix 3B, page-6
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