or · the closing mid-market price on the last trading day before the Company receives notice of the intended conversion of the Loan Notes. ...so running yield, seniority and attractive conversion terms ...doesn't look great for the humble PI imv
and culs v attractive
The Loan Notes are repayable at par on the third anniversary of their issue together with interest which accrues on the principal outstanding at 3% per annum in the first year rising to 7.5% per annum in the second and third year following their issue. The Loan Notes carry the right, subject to the Company's ordinary shareholders passing the relevant resolution at a general meeting, to be converted, at a future date, into such number of Ordinary Shares as is equal to the principal and interest outstanding on the Loan Notes to be converted divided by the lower of either: · 2.5p, representing a premium of 92% to the closing mid-market price of 1.3p on 17 November 2014; or · the closing mid-market price on the last trading day before the Company receives notice of the intended conversion of the Loan Notes.
fundraise was at closer to 1p
so why rush to buy?
on the line
29 Dec '14
This has every prospect of becoming a great company but there seems something lacking in management.
14 Dec '14
Smith and Nephew were small fry once and look at their SP now
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