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Convertible means the investors who subscribed to the PA can convert the PA to common ordinary shares at the predetermined exercise price. In this view, this PA feature is like a warrant.
Redeemable means Hibiscus can buy back the PA from the investors at predetermined price, usually after certain locked in period. In this case, it is beneficial to Hibiscus. This PA feature is like redeem back a bond.
However, there is a separate accounting measure called Diluted EPS (not the typical EPS) where you can see the impacts of all convertible stuffs such as warrants, prefs on EPS.
What is the duration period of the redemption? Everything is not written precisely! Put us investors in a very difficult situation whether want to sell or keep?
If want to put out a proposal, do it professionally. Don’t put investors in a dilemma don’t know what to do? ‘Normally’ convertible is not redeemable, redeemable is not convertible.
Haha, sale price of PA is not the same as sale price of ordinary share. Chinese translation usually less reliable, just wait for the official thick proposal. If you really cant tahan, just call the IR and shout at them.
@SS Lim, ignore these jokers. What you explained is basically common knowledge of what is expected from investors. Yet they wanna join in the same club of investors without the same knowledge.
