Ann: 5.50% Unsecured Convertible Note Offer, page-2

hi all

i posted this in the naos small cap (nsc) stream earlier but havent got a response so thought i would try here.

does anybody have any thoughts on this offer? is it worth it and also how does it work? do we buy NAC notes at $100 each, which we then get payed $5.50 (5.5%) per note for 5 years ($30.50), we then have the option of either converting them to NAC shares at a price of 1.15 per share (does that mean roughly 86-87 shares per note, and we pay no extra?) or continuing to collect $6.50 in the 6th year and &%7.50 in the 7th year (taking us to $42.50). and then the notes mature if we haven't already converted them. what does maturity mean? i'm presuming/guessing it means we get our $100 per note back having collected $42.50 in interest payments over the previous 7 years, but hoping for clarity. does this seem worth it compared to just buying shares and getting dividend while hoping for share price growth. guaranteed vs potential risk?

cheers.