Dalque43, The issuer on a reset date (the next is before 30th...

Dalque43,

The issuer on a reset date (the next is before 30th October 2015) has the right to change the terms of the notes, so they can change the conversion rate to 1 share per A$2 note instead of 3 currently & the rate of interest applied, so it could be reduced to like 2.5% if they chose to do this also.

How many loan note holders would elect to continue on those terms? not many I expect.

Therefore the note holders would use there "right" during a reset to have there notes redeemed at par A$2 per note.

LOTM