CL101,
Imo, that paragraph is just defining the meaning of takeover events. the reference to conversions is part of establishing relevant thresholds that would indicate or clarify if a takeover has or will occur by an external party. I suspect this is more or less boiler plate language, that also addresses changes in board, etc. I don't see any specifics there or info related to conversions that are specific to this deal. Would like to hear from a pro who reads this stuff all the time.
glta