The conversion price is at a premium of 125.1% over the net tangible assets (NTA) per share of the company as at Dec 31, 2020, and 79.5% over the closing share price of the company as at Feb 16. According to the company, the company has been in a net liability position over the last few years, and that the proposed transaction will strengthen its financial position. The NTA and NTA per share will grow to $327.8 million from $138.2 million and 7.38 cents per share, from 3.11 cents per share. “The board is thankful for the patience of all our shareholders and the commitment of our controlling shareholders, OUE and ITOCHU Corporation, whose support is pivotal for the success of the proposed transactions. The features of the perpetual securities allow the company to pursue its business plans from a position of strength, which is even more critical given the challenges and opportunities arising from the Covid-19 pandemic,” says chairman Lee Yi Shyan. Shares in OUE Lippo Healthcare closed flat at 3.7 cents on Feb 23.