Very important to know that St George is giving SIGO 6 months before any redemptions (conversion?) can take place. If that is an iron-clad guarantee then there will be no dilution for at least 6 months AND, if SIGO can get their share price UP, conversion shares will be minimal.
(For example even at only $2 per share, SIGO would only have to issue about 2.5M shares to St George. At $5 per share SIGO could probably get by with 1M shares, unless they want to pay back some in cash. Hopefully SIGO will be generating free cash within the next 6 months!! -jmo)
However, before jumping to conclusions, someone needs to read the Lender's agreement very carefully.
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