Maybe I'm clutching straws but I always saw the loop that the best possible outcome for takers of the note would be a ridiculously low share price when they converted to load the banks right up and then takeover once it was completed.
Not implying anything it just seemed like another way to view it.
Say above 0.052c and one deal the size of Janssen adjustment pre conversion would of resulted in 45M shares and no options as it currently stands it's 177M shares and 70M options. You can see where I was coming from.
Ann: Converting Note Placement , page-43
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