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Convertible Loan Notes

  • 25-03-2015 11:21AM
    #1
    aquascrotum
    Registered Users, Registered Users 2 Posts: 466 ✭✭


    Quick one - I dropped a couple of hundred quid into a Halifax online share dealing account a couple of years ago and put it into a few penny stocks for the craic.

    One of those was Afferro, which was bought over by IMIC. I broke even / slight profit on the stock but have a couple of hundred "Convertible Loan Notes" out of it as well. A bit of background reading at http://www.imicplc.com/public/RegulatoryFilings/IMIC_-_CLN_Listing_-_FINAL.pdf suggests that these will either be redeemed for cash or turned into IMIC shares in Dec 2015.

    As a complete novice, can anyone explain to me what one of these notes is, whether I can trade / sell it before Dec 15, how can I calculate the value of it, and whether I can expect the 8% return on it that's mentioned in the link above?

    Its likely to stand me very little at present, just asking out of interest more than anything.


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