Help required9 Feb 2012 10:35
You purchase loan notes to be convert in October at 32% discount. You convert all the 1p shares and make a great profit but as for the other loan notes to be repaid in cash. There is no requirement to convert at 18p. Therefore you pay approx £2m for £3m of notes. Convert a third at 1p and make abomb and convert the remaining £2m for £2m and you get your initial investment back and a load of 1p shares.
Have I missed something here?
Advise very much appreciated