References in periodicals archive ?
Sydney, Australia, May 9, 2012 - (ABN Newswire) - Gold Anomaly Limited (ASX:GOA) has secured funding from Bergen Global Opportunity Fund, LP ("Bergen"), a US-based institutional investor managed by Bergen Asset Management, LLC ("Bergen Asset Management"), under a Convertible Security Agreement executed today ("the Agreement").
One example would be a convertible security, a fixed-income instrument with an equity component.
85, Yield Test for Determining whether a Convertible Security Is a Common Stock Equivalent.
This allows that, following the conversion of the convertible security, no more than the greater of 1 million shares or 10% of the trading volume of the shares on the ASX may be sold by SpringTree on the ASX on any given day.
In addition, the two-thirds yield test seems to be biased against common stock equivalence, since it compares the return of a relatively low-risk Aa-rated corporate bond with that of a given company's convertible security that may be riskier because of the company's credit standing.
A convertible security has value both as a bond and as stock.
Conversion is assumed if the convertible security is a common stock equivalent and the assumed conversion reduces EPS.