EG is offering convertible preference shares with 2% interest for 5 years to shareholders. Bonus shares will only be given to those shareholders taking up the preference shares meaning EG-WC holders have to convert their shares to EG share in order to subscribe for preference shares with bonus issue 1 for one. This is a very smart corporate exercise and all the present shareholders will have no reason to complain about because the company is going to show a better profit from the paying less loan and bank interest.
Stock: [EG-WC]:
2017-03-06 23:09 | Report Abuse
EG is offering convertible preference shares with 2% interest for 5 years to shareholders. Bonus shares will only be given to those shareholders taking up the preference shares meaning EG-WC holders have to convert their shares to EG share in order to subscribe for preference shares with bonus issue 1 for one. This is a very smart corporate exercise and all the present shareholders will have no reason to complain about because the company is going to show a better profit from the paying less loan and bank interest.