It's not so bad. The note holders don't get free shares. They get paid a coupon of 2.75% and notes are convertible at $2.10. i think only $150m is drawn atm (with $50m more available). At the time of issue, that's a reasonable price/rate ... It's a quasi share with downside protection. If they convert, the loan disappears. Hardly dilutive at current prices, that's like the company issuing $150m of shares at $2.10 instead of $2.50 ... $28m discount. I wouldn't sweat it.
Ann: Notice of Annual General Meeting, Proxy Form & Annual Report, page-3
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Last
$4.32 |
Change
-0.040(0.92%) |
Mkt cap ! $3.651B | |||
| Open | High | Low | Value | Volume |
| $4.38 | $4.39 | $4.30 | $7.106M | 1.643M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 33998 | $4.30 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.32 | 148 | 1 |
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