From my reading (could be wrong) of the debt documents, the main worry right now would be if the note holders exercise the put option at $5.55 (the new conversion price post the demerger). That would force WEB to buy the noteholders shares at $5.55 (netting them the original ~22.5% conversion premium). However, that would be less of a headache and "cheaper" for WEB than if WEB was trading at $10 and they have to convert those notes at $5.55, which would have turned out to be a very expensive financing indeed
The other thing that is unclear is what are these equity linked assets that they keep buying- they have $52m now. Is a sort of call option at $5.55?
Share Buy Back - Convertable Notes discussion thread, page-2
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Last
$4.64 |
Change
-0.030(0.64%) |
Mkt cap ! $1.676B | |||
| Open | High | Low | Value | Volume |
| $4.72 | $4.74 | $4.59 | $4.970M | 1.071M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 500 | $4.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.65 | 16465 | 3 |
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| Last trade - 16.10pm 16/06/2025 (20 minute delay) ? |
| WEB (ASX) Chart |