I'm not clear what's being proposed or exactly what form it's...

I'm not clear what's being proposed or exactly what form it's going to take, but, if the notes aren't to be redeemed but are being converted to equity instead, shouldn't the conversion be at 100c in the $?

Again, the note holders will have to consent to this alteration to their rights, so there is some leverage there.

I sold all my notes a bit higher up, and am reluctant to get involved again, but perhaps they might be a useful punt at around 40c?

Anyway, if you have a better understanding of what a conversion might mean, please let me know.

Regards