CAPITAL MARKETS

Poseidon shuffles the cards

POSEIDON Nickel has renegotiated its convertible notes, reducing the value by 50% to $US17.5 million ($A24.5 million) from $35 million, and the term of the notes has been extended by 42 months to September 2020.

Matthew Staroste
Poseidon shuffles the cards

The conversion price of the renegotiated notes has been set at 9c per share, down from 33c, and the interest rate will stay stable at 5% per annum. The changes are subject to approval by shareholders,...

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