The second quarter 2018 net loss was largely driven by an accounting impact of a non-cash beneficial
conversion feature on the outstanding preferred shares totalling USD48.5m or USD0.29 per share.
4) Simplify the conversion of cryptocurrencies for users via a one-click instant
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Nevertheless, the preferred stock is not afforded equity credit by Fitch given that it has a fixed conversion rate and lacks a mandatory
conversion feature.
This
conversion feature illustrates the importance of considering the anticipated holding period in choosing a share class.<br />Class C Shares.
Ratings also reflect relative risk of the ADT-1 instrument including profit servicing from only earnings for the year,
conversion feature in the event of pre-specified trigger events, lock-in clause and point of non-viability in terms of regulatory requirements.
The decrease was due to the one-time charge related to the beneficial
conversion feature of the Company's Series B Convertible Preferred Stock in 2016.
The assigned rating portrays the relative risk of the Tier-1 instrument wherein the issuer has full discretion on coupon payments, interest servicing from only profits for the year and
conversion feature in the event of pre-specified trigger events, lock-in clause and point of non-viability in terms of regulatory requirements.
Dana Gas' solution is to propose to exchange the Sukuk with a new enforceable, Shari'ah compliant instrument, which would have a tenor of four years, confer rights to profit distributions at less than half of the current profit rates and without a
conversion feature. Such new profit payments will comprise a cash and PIK element.
The UAE-based energy producer said on Tuesday in a filing that it proposes exchanging $350 million of nine per cent certificates and $350 million of seven per cent exchangeable certificates with a new four-year security paying profit "at less than half of the current profit rates and without a
conversion feature."
The
conversion feature of renewable and convertible term allows policyholders to enjoy higher death protection than they could otherwise afford and later allows them to lock-in their premiums and build cash values when their ability to pay premiums increases.
The
conversion feature would allow that person to keep all or a portion of their life insurance after the 20-year term for the rest of their life.
