I don't think the CN cares when they convert it to shares as the amount they get will always depend on the pps, they are only worry if there are any buying pressure and support to dump them to the market, and they did yesterday so they dumped it.
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- Ann: Appendix 3B - Part Conversion of Convertible Security
Ann: Appendix 3B - Part Conversion of Convertible Security, page-56
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