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RE: [sharechat] GPG


From: Samuel Moore <SAM@ks.co.nz>
Date: Thu, 6 Apr 2000 09:27:24 +1200


Derek

My understanding (as in, I could be wrong) of an 'unsecured convertible loan
note' is that it is a form of debt security which is convertible to an
equity security.  In such cases, you loan money to the company for a term
(and generally with interest).  At the end of the term of the loan, the note
becomes convertible to shares.  'Unsecured' means just that, it is like any
other unsecured loan to the company.  I hope this helps, I have never
actually played with these things and so have no first hand experience.

Well, there you are, my first post to this group after a long membership
spent watching.  The really ironic thing is that I'm answering (well trying
to anyway) a question and not asking one.  I'm totally new to this game.  A
few friends and I started a share club at work late last year and purchased
Telemedia and Advantage Group.  Late last month we had tripled our money,
now it seems to be slipping a little (actually a lot!!).  Still for first
timers, we seem to be having a good time and haven't lost any money yet.

Thanks Ben for a wonderful forum, and your continued efforts in striving for
a high level of netiquitte.

-----Original Message-----
From: Derek Watt [mailto:dkw@paradise.net.nz]
Sent: Wednesday, 5 April 2000 21:58
To: sharechat@sharechat.co.nz
Subject: [sharechat] GPG


GPG "has announced its intention to give shareholders
the opportunity to exchange at least 40% of their 
ordinary shares for unsecured convertible loan notes."

Does anyone know what a 'unsecured convertible loan note'
is ? or the terms of the buyback offer by GPG?

Thanks
Derek




-----------------------------------
Derek Watt
http://members.tripod.com/DKWatt/
-----------------------------------




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