OK having spent the last 15 minutes reading the announcement I can see how it is less dilutive than a straight CR provided we get some significant news before the end of August. If we did a CR right now to the SI’s it would be at 20% discount to 15 day VWAP (somewhere under 4c). Only 50% of the note can be converted and only after the meeting which is due to occur at the end of August. If CJ can release some serious news before then that gets the SP up then the dilution will be significantly minimised.
The key is going to be the details of the note and what conditions are attached.
MUS Price at posting:
5.7¢ Sentiment: Buy Disclosure: Held
