Turners says 75% of convertible bond holders elect to convert to shares

Thu, 01 Sep 2016

By Jonathan Underhill Sept. 2 (BusinessDesk) - Turners, the financial services firm, says 137 holders of its convertible bonds have elected to take shares when they come due on Sept. 30, amounting to 75 percent or the debt on issue, or $17.4 million. Chairman Grant Baker said the conversion rate was higher than expected and "reflects the market’s confidence in the group’s strategy and continued growth.” Last month, the company announced a new offer of up to $30 million of convertible bonds, subject to approval by shareholders at their...

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