TVX Gold Message Board - Msg: 15582870

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Gold/Mining/Energy : TVX Gold

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To: Edmund Lee who wrote (798)	3/29/2001 1:00:30 PM
From: LLCF	Read Replies (1) of 905

So this is sort of a 'back door' toxic bond... ie. it doesn't have the 'anytime' exercise feature however it does appear to have the 'spiral strike price' where the bonds can get exercised at a price based on 'value' not an exercise price that is set?? This is very interesting, although in my experience the damage normally done by "toxics" is due to the holders of the bonds being actively involved in shorting the stock down to get a lower conversion [more shares]... this doesn't seem to be the case here??? Who hold the bond, individuals or freaking GOLDMAN??? Thanks in advance to anyone following. dAK

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