Scottish Re Group Ltd (fka SKRRF)

[Enterprising Investor]

Do they really have a choice?

"On the ninth anniversary of issue (5/07/16), the Convertible Cumulative Participating Preferred Shares automatically will convert into an aggregate of 150,000,000 ordinary shares if not previously converted. SKRRF is not required at any time to redeem the Convertible Cumulative Participating Preferred Shares for cash, except in the event of a liquidation or a change-in-control event."

Absent liquidating the business or giving up control, conversion will occur.

I think management will once again attempt a SKRUF tender offer.