From memory they have until 2016 to convert and in the meantime enjoy a coupon on their bonds so where is the incentive to convert to higher risk equity until such time as a dividend exceeds the coupon?
They can sit back on their higher tier bonds, with interest, and watch the SP appreciate for a couple of years.
Nice work, if you can get it.
mt kellett must be laughing-for now, page-6
Add LYC (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$7.88 |
Change
-0.210(2.60%) |
Mkt cap ! $7.477B | |||
| Open | High | Low | Value | Volume |
| $8.03 | $8.03 | $7.84 | $6.207M | 783.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 4641 | $7.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.88 | 8975 | 21 |
View Market Depth
| Last trade - 13.00pm 11/11/2024 (20 minute delay) ? |
| LYC (ASX) Chart |