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[sharechat] AQL notes...out of interest

From:	"Tony Haddon" <haddon@E3.net.nz>
Date:	Fri, 22 Sep 2000 08:01:21 +1200

It may be that I'm particularly obtuse this morning, but I don't understand this notice posted yeserday :

CONV: AQL: CONVERSION & ISSUE NOTICE

Aquaria 21 has advised that of 13,348,000 convertible notes on issue, holders
of 192,000 Convertible Notes have elected to redeem each note for $0.25 cash.
The number of Notes remaining on issue that have not elected to redeem for
cash is now 84,000. Accordingly Aquaria 21 have allotted 13,348,000 notes
(NZSE code AQLGR) that represent that class of notes on which the election to
redeem for cash has been taken. The new class of notes allotted retain the
right to receive interest payable on 30/09/2000 of 1.5cpn. The remaining
84,000 notes will continue to trade under the NZSE code AQLGA. _

Can someone please explain ...ie 192T redeeming, 84T not redeeming, leaving 13 million odd where ??

Rgds, Tony Haddon

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