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Ann: Becoming a substantial holder, page-11

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Indytrader1988

6,108 Posts.

929

04/08/23

15:34

Post #: 69165628
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Originally posted by alpha100: ↑

Eloi, you are wrong regarding the debt. It is $6m straight debt and $4m convertible notes. The notes convert at $0.20 per share however the important part is that it is at the discretion of the LENDER, ie unless the share price is well above $0.20 (was that a flying pig that I just saw?!?) it will just be treated as normal debt. So for all intents and purposes the company’s debt is $10m. I’m guessing you’ve been talking to your mate Karl and he omitted to give you the complete description of how the debt works. Why am I not surprised....

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please enlighten me on where it says that it will convert to a normal debt if it falls below 0.20 or where its at the discretion of the lender?

https://hotcopper.com.au/threads/ann-lvt-secures-10million-debt-facility-for-strategic-growth.6309581/

LVT Price at posting: 1.1¢ Sentiment: Buy Disclosure: Held
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