The value differential between the conversion price and the current share price is the value carved out of shareholders equity. Effectively bond holders received 13333333 X $2 = $26.6m for giving up $13.3m of debt. Well, the buyers will have received at a discount so the profits are split but effectively S/H have gifted them $13.3m.
I'm not so worried about a hostile take over. Though with bondholders selling to instos I feel that the stock is less and less a spec stock held by punters. Also there haven't been notices for substantial shareholdings issued much. Interest would probably be foreign in any case and the FIRB have shown their not interested in Lynas being sold off overseas.
Ann: Partial Conversion of Bonds and Appendix 3B, page-28
Add LYC (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$6.76 |
Change
0.020(0.30%) |
Mkt cap ! $6.318B | |||
| Open | High | Low | Value | Volume |
| $6.70 | $6.82 | $6.68 | $12.37M | 1.829M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4000 | $6.75 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.78 | 7217 | 2 |
View Market Depth
| Last trade - 16.10pm 18/09/2024 (20 minute delay) ? |
| LYC (ASX) Chart |