Updated conversion information
The August 30 closing bid of 4 11/32 became stale today, and CC will have to convert
prior to one minute before noon ET tomorrow to get this conversion price.
The conversion price including tomorrow's closing bid, will increase
unless the closing bid tomorrow drops to 4 5/16 or below. Here are the closing bids for
the last ten days, and a forecast what will happen if the closing bid remains at today's
closing bid of 5 3/4 through the next week:
Date Bid
27-Aug 4.3125 Was only good until noon today.
30-Aug 4.3438 Became stale today, and drops out by noon tomorrow.
31-Aug 4.3125
1-Sep 4.2500
2-Sep 4.5625
3-Sep 4.6875 Conversion
7-Sep 4.8750 Price Shares Lost Each Day
8-Sep 5.6250 4.4240 1,771,500 0
9-Sep 5.3750 4.4240 1,771,500 0
10-Sep 5.2500 4.4556 1,759,000 12,500
13-Sep 5.7500 4.5503 1,722,400 36,600
Forecast if bid remains unchanged from current bid of 5 3/4 :
Date Bid Conversion price Shares Lost Each Day
14-Sep 5.7500 4.7028 1,666,600 55,800
15-Sep 5.7500 4.8817 1,605,500 61,100
16-Sep 5.7500 5.1131 1,532,800 72,700
17-Sep 5.7500 5.3130 1,475,100 57,700
20-Sep 5.7500 5.4919 1,427,100 48,000
21-Sep 5.7500 5.6392 1,389,800 37,300
22-Sep 5.7500 5.6602 1,384,700 5,200
23-Sep 5.7500 5.7233 1,369,400 15,300
Total 402,200
In the next five days, CC will lose an average of 59,000 shares per day,
if they don't convert.
Paul |
