They will get money, not shares. Basically they'll get par+accrued interest, but with the share price somewhat higher than that, they have time to file their conversion notice and get stock worth slightly more that they can sell (or hold onto to retain exposure to ZIP). Much tidier capital structure, and given the separate funding structures for the receivables in US vs ANZ, a short step to splitting the businesses.
Ann: Zip Senior Convertible Notes - Early Redemption, page-6
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Last
$2.30 |
Change
0.070(3.14%) |
Mkt cap ! $3.004B | |||
| Open | High | Low | Value | Volume |
| $2.27 | $2.35 | $2.24 | $24.14M | 10.53M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 36 | 214687 | $2.29 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.30 | 234210 | 23 |
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| ZIP (ASX) Chart |