Hi,
i,m a newcomer at this game (have a racing background),could someone explain this.bought cdd convertible notes through financial advisor (2004)paying 9% maturing '08.At one stage supposedley worth 7.70 per share.On maturity i can get my money back(less original cost to buy)or pay to convert to ord. shares.the sums don't add up,because if i convert i have to hope that the current price goes up by 25%so i can break even,have been advised by planner to take this action and take the punt.not adverse to the punt but why would'nt he have advised to sell 12 months ago at 3 times the price.sorry for the ramble but would appreciate advice.
p.s.have decided to have my own crack at this caper,feeling suss letting others control the pursestrings.
cheers
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