AIS 2.86% 18.0¢ aeris resources limited

Ann: QUARTERLY ACTIVITIES REPORT - SEPTEMBER QUARTER 2017, page-11

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  1. 4,695 Posts.
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    johnrap, best to read the AIS announcements late 2015. There are CRPS 560,463,653 and CNRPS 140,115,913. There is also a 5% payment if Cu price goes above $8000/t, and more at $8750/t and $9500/t.
    To redeem all the notes is something like $50 million, and have until 31st DEc 2019.
    The CNRPS and CRPS convert automatically on the 31st Dec 2020, its possible for another shareholder to buy like Glencore, or a SPP could also be utilized. But the CRPS and CNRPS can be converted earlier if the shareprice is high enough for the holder to want to exercise them.

    http://www.asx.com.au/asxpdf/20150803/pdf/4307vg0md5h6p4.pdf
 
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