Youre right. I can't believe it is actually fixed conversion...

Youre right. I can't believe it is actually fixed conversion price of $2-. Never read all the paperwork but assumed it was poison pill style to prevent a forceful takeover (similar to seven west media) and protect the bradken managers jobs. I guess at 17% it is sufficient to act as a poison pill. Still, not the most promising balance sheet and currently deserves the low valuation. Might change as they de leverage