URL 0.00% 13.5¢ universal resources limited

question on convertible notes

  1. 1,585 Posts.
    Question is... does the note holder have to convert the convertible note into shares? My understanding is they have a option to convert but it's not mendatory. therefore holders can receive the principle back if they don't convert them into shares. isn't that right?
 
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Currently unlisted public company.

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