Wednesday, January 9, 2013

IPCO

IPCO: exercised its right to convert notes to shares. These structured convertible notes were due 2013, and allows the subscriber to select 5 consecutive Closing Prices per share within the previous 25 Business Days period. The existing issued share capital of the company has increased by 250mn, which is a 9.5% increase from the previous number of shares. Theoretical share price after conversion: =8.67% * 0.020 + 91.33% * 0.029 (closing price) =0.0282 Counter is down -3.4% at $0.028.

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