"The Company will shortly convene an extraordinary general meeting to seek the necessary approval / ratification of its shareholders for, amongst other things, the issue of the Tranche A Convertible Notes and Tranche B Convertible Notes. "
"If these shareholder approvals are obtained, the terms of the Tranche A Convertible Notes will be amended to permit conversion of those Tranche A Convertible Notes to occur with a floating A$/US$ exchange rate and the fixed minimum conversion price of A$0.005 will cease to apply and (subject to satisfaction or waiver of the other conditions of the Convertible Note Agreement) the Tranche B Convertible Notes will be issued."
I interpret this as insurance for the issuer. I actually think this is a good sign. I suspect they are worried the company will be less in need of cash soon and therefore, we may not vote to take up the full value of the finance deal. They are making sure they get a good return either way.
This is fine. I'm not pulling my buy order.
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