TheDirectory.com Inc (SEEK)

[vietmunki]

Scott told me that the shares were converted by a debt holder (although he said an amount less than 200m) and that the majority of debt holders including all the major holders do not have plans to convert any time soon. Also, he is in talks to reach an agreement so that they don't convert for at least a year and he is asking them to accept cash payments instead of converting shares (of course whenever they sustain profit).