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Pref div per NCCPS is 3.9c p.a. eversince issue time.
"Cash component" for payment of the "one-off preferential cash dividend" upon Conversion is $0.64 per NCCPS
3.9/64 = 6.09%
=> So Arguably can said that 6.09% may be threshold for servicing costs for any replacement debts... ofcoz Company could prefer a much lower threshold.
...and I repeat arguably, coz things can be FAR less straightforward and we can argue till the cow comes home on this.
because it may be far less straightforward, nor are there certainty,
that's why NCCPS is trading at such huge discounts to potential Conversion values.
I'm vested and betting on a conversion within three years,
but windfall Conversion to take place or not ?.. it's for each of you to make your own judgement call.
"Cash component" for payment of the "one-off preferential cash dividend" upon Conversion is $0.64 per NCCPS
3.9/64 = 6.09%
=> So Arguably can said that 6.09% may be threshold for servicing costs for any replacement debts... ofcoz Company could prefer a much lower threshold.
...and I repeat arguably, coz things can be FAR less straightforward and we can argue till the cow comes home on this.
because it may be far less straightforward, nor are there certainty,
that's why NCCPS is trading at such huge discounts to potential Conversion values.
I'm vested and betting on a conversion within three years,
but windfall Conversion to take place or not ?.. it's for each of you to make your own judgement call.