Which sources of information said 20c a share buyback?According...

Which sources of information said 20c a share buyback?

According to management,Valad has no material debt expiring in FY09, and sufficient cash on deposit to cover
all business and debt commitments in FY09.

Yet according to 'sources' for the newspaper article,
"management is trying to team up with a venture capital fund to buy the Australian listed property trust for 20c a security."

Article is tabloid journalism for the financial sector,typical 'some say','sources suggest''market speculation''industry source'.
Just needed racy photos of page 3 girls to give article credibility it deserves.

It could be true,then again it might not,then again it could be something else,then again it might not,LOL.

However, since this has been brought up,what about Kimco?

Kimco in february purchased an A$200 million convertible note issued by a subsidiary of Valad.

Coupon of 9.5% payable semi-annually in arrears,
Convertible anytime into Valad securities at a price of A$1.33,
If not converted, the note is repayable by Valad after year five,
Valad has the right to extend the repayment date by 18 months, subject to certain coupon and conversion price resets.


If a buyback, wouldn't this trigger conversion?

I would have thought so, but I am not a lawyer,opinions welcome.