RE:Re convvion and reception priceThe point I was trying to make, perhaps not clearly, was that debenture holders would not necessarily get their cash back on maturity. Getting cash back would only be expected where the shares have not grown in value.
The share payment option, at 95%, would really only apply where the shares have not appreciated, meaning debenture holders would not wish convert. In such instance they could be forced to convert into shares at a small discount to the then market price.
May do example later...