I think you should all look at the last time they did this. In the end because of a great coal price and the share price more than doubling and hign dividends the holders minted a packet of profits. I think they converted at around 50% of the then current pricing. NHC went and struck seals to buy back a lot of the convertible notes.
I don't get why they would do this. However they have put in limits so that it cannot be as bad as last time.
I just dont get it I am sure they could get a convertible. note away with existing shareholders on more favourable terms in Australia.
I dont understand it - too many clever people pushing these products and no- one ever fesses up to making mistakes.
Ann: Convertible Notes Offering, page-28
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