Quote Originally Posted by Enumerate View Post
Thinking things through - I wonder if these guys are planning on making a large share transaction at a price significantly higher than the existing price somewhere in the days after the 24th of February? This would weight the VWAP to a market price and eliminate the possibility of the "death spiral".
The action is going to start for real after 24 Feb. Either way it doesn't look like bond holders are going to get their money back. On one hand you hang in there for another 5 years at 6% and pray every night that NZF is still around on 15/3/06 or you get converted into ordinary shares at a value yet to be determined. But given the liquidity of this stock it doesn't look like there would be much chance of selling shares as there are so few buyers.