The prefs pay a 9% yieldd on the $50 remaining face value (paid in Nov 2002 and May 2003) equals $2.25 each 6 months. In May 2003, they convert to about $55 worth of OSH shares based on the prevailing price.
Good yield, but little exposure to OSH shre price upside over next 8 months.
Grunt
oil search, page-3
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