Silverjet announced that TFB Mortgages declined to convert its £10 million convertible loan into new ordinary shares in the all-business-class airline at £0.60 per share (ATWOnline, Dec. 3, 2007). The loan is due to be repaid on Dec. 17, 2009. TFB said in a statement, "Because of recent market conditions, we have decided not to exercise our right to convert our loan to Silverjet into equity. Instead, we will continue to work with the company and monitor its performance going ...

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