no way in the world, would a Chinese company (this case Huayou) would convert at more than 100% premium to current share price, knowing the current state of the AVZ financial position, as they have to sign off as a board member to this SPP, or protest and offer a better terms!
IF (and a big IF), they offered better terms and the rest of BoD rejected and went away with Patto.. then its disgraceful and criminal act from the board.... hence the issue of us shareholders not trusting the mgt atm.
Ann: AVZ Launches Fully Underwritten Share Purchase Plan, page-776
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