Glennon Small Companies Ltd (AU:GC1) has released an update.
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Glennon Small Companies Limited has announced an extension of their Resettable Redeemable Convertible Preference Shares (RRCPS) with a new term ending on 30 September 2027, featuring an increased dividend rate of 6.8% and a lower conversion price of $0.55. Shareholders have the option to either retain their RRCPS for the new term or convert them into Ordinary Shares, with actions required by 12 August 2024 if opting for conversion. The company emphasizes the importance of understanding the reset terms and advises shareholders to seek independent advice.
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