The debt holder would have to approve any issue - hard to see them not want their compensation if they approve the company issue at 1.5c or half of the 3c level they didn’t their convertible - I have little confidence that the process - whatever it is won’t be palatable for anyone - best sell and let dust settle then re-evaluate. The odds are it’s much lower from here and even if you sell at 1.9c you will be able to buy heaps at whatever the discounted rights issue is at , or lower, as as is always the case with names that are as sick as adr
