I would not worry too much about converting,
if yes then it will add cash to the bank but it will Dellute Sid himself as the biggest shareholder and us as well
if not converted, money will come from the US IPO and no dillusion.
Sud just paid 4 millions last week and he is the biggest share holder what other confidence can he show more.
just relax and enjoy the ride to US. IHL is far better than many US peer currently at over 1 Billion USD not AUD
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