The increase in earnings was partially offset by a non-cash expense of R1 560 million, or 217 cents per share (no tax impact), relating to the mark to market of the
conversion option on the US$ convertible bonds at year end.
Cadogan said the financial results will raise the value of Cadogan's indirect participating interest if shareholders approve the exercise of the
conversion option.
The decision to convert perpetual tier 1 convertible capital securities into ordinary shares on the first
conversion option date on May 2 this year at the rate of 2.5 ordinary shares for every capital security (conversion price of 400 fils) is beneficial for shareholders as the current market price of BBK shares is between 480 and 490 fils, chairman Murad Ali Murad told the GDN on the sidelines of the annual and extraordinary general meetings yesterday at the InterContinental Regency Bahrain.
The conversion to an ESOP has further support from Congress with the passing this year of the Main Street Employee Ownership Act of 2018, the intent of which is to continue to make the ESOP
conversion option a viable one.
M2 EQUITYBITES-October 2, 2017-Meritor provides update of
conversion option of senior notes
handgun owners as a
conversion option first and as a cartridge for new pistols second.
Buying a term life insurance policy with a
conversion option is really important.
163(1) only if there was a substantial certainty that the
conversion option would be exercised.
Fahad Al-Rajaan, AUB Chairman stated that, "IFC's decision to exercise the
conversion option, following the IFC Capitalization Fund's accelerated conversion of its Mandatory Convertible Preference Shares (MCPS) in October 2013, is a testament to IFC's desire to further strengthen its long standing partnership and collaboration with AUB to expand financial services in the MENA region.
Other income for the fourth quarter of fiscal 2014 and fiscal 2013 included USD2.8m and USD6.2m, respectively, related to the increase in fair value of the
conversion option of our CybAero convertible bond investment.
The app is pretty robust, and it offers one more
conversion option - a choice for video/audio quality, which is useful considering various performance capabilities of devices.
