I'm more sanguine in regards to this announcement.
Fixing the currency conversion is a real boon for us. I predict the AUD will be in the 50's by the end of the year.
Reducing the conversion time is likely a concession for the above.
I am a little unclear on the minimum conversion price. If it is fixing a floor for selling the convertible note at our 52 week low, fine. If they are changing the conversion agreement to convert all of Tranche A for that price irrespective of the SP then they just made a nice little profit.
These changes apply only to Tranche A which is 15% of the deal. They require shareholder approval.
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- Ann: Amendment to Convertible Note
Ann: Amendment to Convertible Note, page-11
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