IMO, I doubt that as no reason to redeem at a loss when if they...

IMO, I doubt that as no reason to redeem at a loss when if they don't redeem it's going to be still worth what they paid anyway.

They can wait until 2025 so there's no urgency to convert.

If they don't convert then their value in relation to market capitalisation goes up when SP goes down so no reason to panic sell.

If most CN's are held by one entity then they in theory own more than 50% of CLZ equity.

Also for them to dump shares the shares need to be issued and that hasn't been made public.

For example 1 CN is over 750k new shares to be issued.

If these proposed issue of securities related to CN's one would think CLZ would state that but they haven't.

Who knows, the only way we find out is by forensic examination of information they release working out fact from fiction!

LOL