RE: RE: RE: RE: The reason a preferred stock is co
Can you please translate the following paragraph into layman language (with the math) so it is clear to me why they converted at the start of this month rather than convert when and if upside potential realized? Sorry for the bothersome request but it would be very much appreciated, rg
"Thereafter, the preferred shares are convertible into common shares at the five-year fully accreted value divided by the average market price of the common shares less the greater of 5% or the maximum discount permitted by the Toronto Stock Exchange"