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New Talisman Converts Debt to Shares

Aug 09, 2024

New Talisman (NZX: NTL) is issuing 25 million ordinary shares as part of a partial conversion of the Convertible Note debt security held by Hamish Brown. The shares are priced at NZ$406,250, reflecting a 15% discount on the 20-day volume-weighted average price (VWAP) of NTL shares.

A full conversion of the Note would breach the New Zealand Takeovers Code, which restricts ownership to 20% of NTL’s total share capital. The remaining balance of the Note will remain under existing terms for the next 12 months, with potential for further conversion if it aligns with regulatory guidelines.

 

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