boomeronrations/austted - not so sure that the ords simply hope for a turnaround and advise accordingly. (It seems there are two significant ords holders besides Orbis that account for about 30% together.)
The hybrids hang there like a Sword of Damocles - any conversion for any reason and the ords are swamped quite apart from the other rights the hybrids have of priority or exchange into prefs in certain circumstances. The hybrids security position and need to be paid a dividend or the ords can't be so paid also limits management's flexibility and the value of the ords.
It would surely best in the interests of the ords if the hybrids were taken out quickly even without an offer for the ords. PaperlinX itself buying the hybrids is certainly a possibility as austted [previously canvassed.
Add to My Watchlist
What is My Watchlist?