BDL 0.00% 13.5¢ brandrill limited

undervalued entry?

  1. 66 Posts.
    With BDL currently trading above 8c the BDLG - 8.5% Converting Pref Shares @ 6c seem undervalued.

    This is an extract from the recent prospectus:

    "MANDATORY CONVERTING NOTES:

    * issued at $0.05 per Note

    * 8.5% pa coupon, paid semi-annually

    * convertible into a maximum of 5 shares and a minimum of 1 share on
    or before 30 September 2005

    * mandatory conversion into shares on 30 September 2005

    * second-ranking security under Note Trust Deed"

    Would welcome comments on this.

    Sharkie 13
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.