The possible reason for the latest issue of convertible bonds is not that the company needs more funds but due to the new agreement with Asia Convertible Bond Opportunities,LLC (ACBO) which includes a clause as follows :
Termination for a period of inactivity:
If no request for Conversion of or subscription for any Bond occurs within 45 Trading Days after the previous conversion of or subscription for a Bond(whichever is the later),either the Subscriber or the company may terminate the Agreement. There are no fees or payments that have to be made if either party exercises thi right.
CTP Price at posting:
8.3¢ Sentiment: Hold Disclosure: Held
