Szaba, I am genuinely sorry you have obviously lost money on your Elders shares. I have long argued the board over promised snd underdelivered to the extent they were either incompetent or dishonest or both.
But looking forward, somehow seeking to equalise the dilutionary effects of the boards decisions on ordinary shareholder value, relative to the fixed face value of a senior security eg. The hybrids, is futile and literally 'cutting off your nose to spite your face' (not to mention your proposed approach not being legal)
After saying all that. From where the various securities currently stand , there is much more upside for ordinary shares from a realisation of the hybrids than for the hybrids themselves.
Ann: 2016 AGM - CEOs Address, page-31
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