RE: RNS - Conversion of Convertible Loan Notes26 Feb 2021 08:38
Hedge...agreed to an extent...plenty of grey area on many RNS timings (that's my personal experience talking...I'm not challenging the timing of this one particularly though).
On coordination of the two...mixed views. Part of me says it was coordinated to have a good interview come out so there's a positive spin on the company that helps SP, even though it does nothing for the conversion as they were based on pricing over 3 days. ie it's to detract from the conversion intentionally. Another part of me says there was no coordination and Vlad was responding to a weaker SP independently with the interview. My instinct is there was coordination...perhaps Vlad had the podcast prepped for when Mint moved, and when he got the notice (2 days ago?) he rushed like mad to release it....it did come across like it was released in a rush but well prepared.
Vlad is keen to say he chose the cheaper funding option, but his maths isn't great if he doesn't accept what played out for the shareholders over the last few days. I expected them to convert, but he ought not tout a 10% cost of finance when the impact on the shareholders of the conversion is much more significant and expected.