It's simple maths delta, and I also got to the same number. What would be of interest is why some third party would be happy to buy up the con notes for 2.4c per share, thats a stupid lot more than now. What are the silver linings are we not aware of? Is it to hold a controlling stake to be a prick in any takeover?
Ann: Straits executes agreement to restructure Convertible Notes, page-4
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