41.   Until that happens Mobil could still increase its bid for the preference shares, though Hinton gave no indication that this was being considered.

42.   While the approval of two-thirds of the preference shares was also needed to complete the merger, it appears those shareholders did not organize in opposition.

43.   And, if there are no takers for the preference shares when they are placed out, PhileoAllied acts as the underwriter, picking up the shares.

44.   At the proposed issue date the GDRs will represent convertible bonds and the company will not have created or issued the convertible preference shares.

45.   The capital injection will be in the form of convertible preference shares and, as a result, the SingTel Optus holding will reduce over five years.

46.   The preference share will have full class rights and the interest rates will be agreed upon by the parties on a collective basis, Uniphonenix said.

47.   This excludes emergency preference shares issued by companies as a defense.

48.   He said he hoped they would not trade at a discount to ordinary shares because they would carry a higher dividend and dismissed criticism of the preference shares.

49.   A bonus issue of News Corp. preference shares was launched on the Australian Stock Exchange late last year.

50.   But Murdoch would not specify an amount that could be raised in any further issue of preference shares.