TZL 0.00% 4.9¢ tz limited

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  1. 1,039 Posts.
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    These are no options they are convertible notes with a 10 % coupon. They have been issued October last year and have still close to 2 years to run. In April next year TZL can call them at 103 % of the issue price of $2,95. It looks pretty stupid to me to convert them now, but maybe DKR/Oasis needs the proceeds. They have been the only sellers in the market recently.
    Klaas
 
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