They borrowed these shares at a reference price of $9.18 which imo work as roof for next 360 days, SP above $9.18 is loss on their 11 million borrowed shares (100million divided by $9.18).
I don't think there is any need to cover this 25% risk as long as SP is below $9.18 and definitely they have a stoploss at conversion price of $12.4 (33 million $ loss) which will only offset their profit of interest charged to zip at 2.1% on 400 million after 4 years (33 million $ profit).
Chart - Z1P, page-10502
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Last
$2.79 |
Change
-0.010(0.36%) |
Mkt cap ! $3.642B | |||
| Open | High | Low | Value | Volume |
| $2.80 | $2.81 | $2.74 | $25.49M | 9.190M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 11942 | $2.78 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.79 | 30971 | 2 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |