Hi from Singapore - here for the F1 GP...!!!
Yes.
Australian Super shareholding will increase to around 34% of the company, making them the largest single holder.
The devil will be in any new details that are negotiated for the conversion, but imo, given the cost pressures obviously being incurred, this is a great outcome for the company and holders imo.
Hopefully fully solves the cash issue for the Mardie project and BCI will have a significant holder who has a great 'long term' investment outlook.
With the benefit of hindsight, well done to the company and their financial consultants for negotiating the inclusion of these Series 2 and 3 Convertible notes.
Cheers.
Ann: Variation To Convertible Note Subscription Deed, page-4
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