Preferred share conversion
Exchanging preferred shares for ordinary ones at a ratio fixed in advance, where the articles allow it.
How to read the number
It rewrites the voting structure: a separate class with a prescribed payment method disappears and the number of voting shares rises.
When the metric lies
The price gap between the two classes narrows well before the procedure, on expectation alone. If the decision never comes, the expectation unwinds as fast as it built.
Also known as: preferred conversion