Entire Section
Convertible Debt Securities
37.17
This section sets out additional requirements that apply if debt securities are convertible.
37.18
If debt securities are convertible they must be convertible into:
(a) shares listed or to be listed on the Exchange or another stock exchange; or
(b) depositary receipts listed or to be listed on the Exchange or another stock exchange; or
(c) other assets that the Exchange has agreed in writing are acceptable. 37.19
If debt securities are convertible into shares that have not yet been issued:
(a) the issuance of the shares must have been validly authorised; and
(b) the listing of the shares must have been validly authorised. 37.20
If debt securities are convertible into shares (or into depositary receipts) the terms of the issue must provide for appropriate adjustments to the conversion terms if there is a change in the capital of the issuer of those shares or a change in the capital of the issuer whose shares underlie the depositary receipts.
37.21
The Exchange treats debt securities with non-detachable warrants to subscribe for equity securities or other assets as convertible securities.