The price of the con notes is linked to the capital raising and...

The price of the con notes is linked to the capital raising and so both would have to be dropped otherwise the company would have to present it as a take over. I am sure that in their presentation they will assume that the capital raising is fully subscribed and hence will dilute the con. notes to below 50%. Everyone knows that this will not happen and then note holders will take over the company. Maybe ASIC made them present this.

No one will vote yes as the note holders cannot vote and why would shareholders buy more shares when there are so many notes out at a lower price and with security over the company....it doesn't make sense

However investors will never trust this Board again and if they remain the share price is doomed.
So we are no better off. The only way that the company can forward as a public company after the antics of this Board last year is for this Board to resign ASAP which will never happen unless ASIC remove them