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Question

What is a Conversion Opportunity?

Answer

A company sometimes issues stock that is convertible, such as preference shares or subscription shares that can be converted into other stocks, such as ordinary shares. The company usually gives the holder regular opportunities to convert. The company can either set regular opportunities to convert or give the opportunity to convert at any time (known as a rolling conversion opportunity). This is an elective event, which means you will have to reply in order to take part in the conversion. Usually, the terms of the conversion are based on the share price, making the terms subject to change.

If the opportunities are 'rolling' or monthly, the Corporate Action Team will diarise and write out to you at set opportunities, for example quarterly. However, if you wish to respond out with these set opportunities then please call 0800 901 2911 with your instruction. We will make the instruction on a best endeavours basis, depending on how much notice the Company require when an election to convert is made.

 

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