It's not just Bergen - its any no-floor convertible bond. The literature is vast. And, besides, the incentive they have is as clear as day in the ASX announcement. Perhaps you better read it again and understand why they have a very strong incentive to get the SP to the high 2's. But to make it clear, and as I have said countless times, the incentive may not be realized. If BB can deliver enough timely great news it will be extremely difficult if not impossible for Bergen to optimize the potential of the deal, for them. Nevertheless, the incentive to do so is still there until such time as the deal is terminated.
AUZ Price at posting:
4.5¢ Sentiment: None Disclosure: Not Held
