Full Year Results, page-7

GH is right - no more reset dates. The put option on the convertible bonds has been delayed by 12 months to April 2016 and maturity is still 2018.

I think if enough note holders had used their put option in April this year Linc may have found it difficult to stump up the necessary cash and it is unlikely the note holders would have chosen to convert at 77c when the market share price was much lower than that - they would have asked for cash. If the convertible bond put option was taken up by enough note holders in April 2015 it possibly could have made Linc insolvent if they could not get enough cash in time through asset fire sales.

Given the note holders agreed to the delay of the put option in return for extra interest payments tdid they calculate that they could get some extra cash while waiting another year before they take possession of assets in lieu of put option cash payout from linc in a wind-up situation following insolvency? Was this a stay of execution with additional interest as the sweetener? Is the clock ticking on a convertible bond time bomb?

Can PB and Craig Ricato defuse any such April 2016 bomb before it goes off with a decent asset sale?

Who holds the convertible bonds?