RE:RE:RE:Long Term debt - Unsecured 7-year term debenturesHmmm?
If FT went into a lock down negotiation to issue shares to retire the debenture, the shorts would hammer the SP and know they could not lose. Conversion might be done a 5 cents for 160+ million shares.
A play reminiscent of the RegS, bottomless, death spiral debentures so popular south the border.
It is good someone on this board has brought the debenture's existance to the shareholders' attention. It certainly will make many of them think twice before buying any more shares. But of course that the whole purpose of this exercise.