The early conversion of the notes resulted in a lower conversion price meaning the note holders got more shares for their money.
The obvious reason for them to convert now is that they expect the price to go up and they would get fewer shares.
So maybe there will be a Christmas eve SGM and they will play Jingle Bells. But will it be monophonic or polyphonic?
Ann: Conversion of Convertible Notes and Appendix 3B, page-10
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