Ann: Trading Halt, page-39

Mate - Listing rules prohibit such shenanigans. Convertible or not - they cannot exceed their 86 mil issue quota. But I'm always open to learning new things.

4.9 Exception 9 – conversion of convertible securitiesListing Rule 7.2 exception 985 excludes from the restrictions in Listing Rules 7.1 and 7.1A an issue of securities asa result of the conversion of convertible securities.86 The entity must have issued the convertible securitiesa) before it was listed and disclosed the existence and material terms of the convertible securities in theprospectus, PDS or information memorandum lodged with ASX under Listing Rule 1.1 condition 3; or(b) after it was listed and complied with the Listing Rules when it did so.This a technical exception intended to ensure that the Listing Rules deal appropriately with convertible securities.The time at which an issue of convertible securities is tested to determine whether it falls within an entity’s placementcapacity under Listing Rules 7.1 and 7.1A is when they are issued, not when they are converted. If at the time theyare issued they comply with the Listing Rules, any subsequent conversion in accordance with their terms fallsoutside of Listing Rules 7.1 and 7.1A.