'Conversion A Noteholder will be entitled to convert all or part of all of the Notes held by that Noteholder, and if in part, subject to a minimum face value of $10,000 in accordance with this section 8.1.4 by delivering a Conversion Notice: (i) at any time during the Conversion Period, with conversion to occur as at the last day of the Quarter in which the Conversion Notice is received;'
ie deliver on 20th Mar will be converted on 31st Mar, deliver 1st Jan will be converted on 31st Mar.
I guess they don't want to have the cost of administering lots of individual conversions throughout the year, doesn't seem unreasonable. They could have made only redeemable at the end of the 3 years.
CSS Price at posting:
78.5¢ Sentiment: Buy Disclosure: Held
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