Argex Titanium Inc. ARGEF

RE:RE:Interest bearing convertibles.

[Astrosmith]

"Corporation will have the option, in its sole discretion, to pay interest on any interest payment date in either cash or in Shares at the Market Price (as defined by the TSX Company Manual) at such payment date."

"The Debentures were also amended to provide that interest payments may be made, at the option of the Corporation, through the issuance of common shares.  The issue price of shares issued in any such payment will be equal to the VWAP of Argex’s shares on the Toronto Stock Exchange for the five trading days immediately preceding the date on which Argex sends a notice in prescribed form to the holders of the Debentures."

I have answered my own question. Lower price means more shares issued. Just can't find anything that lays out the exact dates that the notices would be sent out. The last one I can find was August 5, 2016 (Interest dates are Dec 31, March 31, June 31, Sept 31). The debenture owners get 150,000 X 0.11/SP. Each period they can get paid out for example at 0.055 they get double shares than they would if the debentures were converted.

So 001 is probably Luxor who owns 17 mil shares and $2million of the $7.5 million outstanding debentures. They have the shares and the incentive to keep the price down. They do not want a 5 day period with high SP. They could gain a few million extra shares if they can keep this up long enough... but if it costs them more shares than they gain they will have to stop the game. I see the light!