Don't be ridiculous. As a note holder, you are not liable for...

Don't be ridiculous. As a note holder, you are not liable for any losses the company makes. If you had doubts about the company, you would just leave the notes there collecting 5%p.a. At expiry time the excercise price would drop to VWAP over last 5 days - assuming the company was less than 18c.

As it is, the note holders paid 18c per share when they could probably have bought on market in the 12c region if they spaced out the buys.