A very well voiced opinion @Smugtown There's a great article...

A very well voiced opinion @Smugtown

There's a great article which was in the AFR today which has a positive slant on these developments for note holders.

http://www.copyright link/brand/cha...s-for-crown-shaped-by-hybrids-20160203-gmks94

The conditions in the notes were probably not understood by many investors.
That however is why the notes pay a higher rate of interest than government bonds, for example, because they are of higher risk. That is also why we should all be wary of hybrids from any issuer.

In regards to disclosure, management may not be able to comment on the high level of speculation in the market because there is likely not yet any material information that can be relied upon with certainty.
I don't think they have done a lot wrong in this case.