Not exactly a post beaming with enthusiasm but as it is the 6 month mark since issuing the convertible note & conversion 7 months away the whole thing is looking a bit ummmmmm ?
If it did reach maturity where the share price is today & measuring against the specified discount based on objectives achieved ie. 40% at present with no deal comparable to Jannsen yet reached then issue would be at 1.2c per share certainly along way from the 5.2c highlighted with the initial announcement at the time being a 104% premium to the then price but I guess it always looked a long shot pressing that figure against all the clauses that would bring it lower than the "pretty" figure. Again to reach that 5.2c means the overall share price has to be significantly above 5.2c for it to materialize that way in which case everybody would be happy.
Anyway time will tell - 7 months & 1 week to go, time to pull rabbits out of hats & maybe a shareholder update somewhere along the way :-)
PYC Price at posting:
1.8¢ Sentiment: None Disclosure: Held
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