puzzle solved - gr great job, page-29

A 14c notes is always worth 14c + interest.
Thats how I see it. Share holders need to approve it if for e.g
CNP is trading at 10c and the banks want to convert all which means a takeover.
That means 90.1 % ownership by the banks.
This is ASX rule isn't it.
If CNP is trding at $1.4 there is no point for the banks to convert as they will get 1 shares for every 10 notes.
and lost on the interest.
My 2c. Stand to be corrected.