Today's action and with the price stuck at 10c only reinforces my view that we will not see too much converting of the redeemable preference shares to ordinary shares without an announcement of substantially good news.
Hence we should not see too much dilution with these conversions.
I could be wrong, but the market normally sorts these things out.
To unstick the current share price I am hoping to see management will come to a realisation that these conversions are not the best way to go and maybe will make a change to the closing date for the conversions, that is to a date on which that decision is made.
Of course the RPS will have to be redeemed at some stage but the company could then issue shares in a considered manner when there is a need of cash and when the share price is far stronger.
Today's action and with the price stuck at 10c only reinforces...
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