So after todays conversion of $300,000 of notes, there is still $6,375,000 left to convert.
I believe the notes expire 31/05/2014 so that could make the next week or two interesting.
Only $1,125,000 have been converted so far, so its looking doubtful they will convert them all to sell on market. Maybe they will do a deal with someone (Plotemy?) to take them all at 15.5?
Who owns the notes? do they have a shareholding in the company? Will they trash the shareprice down to 15.5 and book a small profit to get as many away as possible?
It was a nicely timed positive announcement for them today but it doesnt seem to have helped them much...share price strength, but low volume of only 666,000.
I gather the board (and most shareholders) would rather they convert, take shares, sell on market for a half cent profit, and increase the free float, whilst allowing them to keep the cash for more wells.
Any thought guys?
- Forums
- ASX - By Stock
- AOK
- conversion of notes
conversion of notes
-
-
- There are more pages in this discussion • 4 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add AOK (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
FHE
FRONTIER ENERGY LIMITED
Adam Kiley, CEO
Adam Kiley
CEO
SPONSORED BY The Market Online