wow i was thinking of buying in, large dividends, pretty much debt free, low pe but seems odd they couldnt get 5million of debt financing at a cheaper rate than 12%. Unless the company can unilaterally convert them at the $1.175 it seems a bit meaningless and sneaky that they are highlighting the share price conversion but leaving out the ursurious interest rate in the 3b.
Something doesn't smell right about it, hopefully its just that they have used up their 10% share placement facility and are about to convert the notes soon and the interest rate was just to lock the people in until they could place shares again easily.
BPS Price at posting:
$1.10 Sentiment: Hold Disclosure: Not Held
