debentures, which under certain circumstances (time-limit, per request and/or other requirements) can be exchanged - sometimes at a set price and for a predetermined number of common stocks or shares - for stocks or shares of the company, thus, turning the holders of the debentures into stock- or shareholders of the company instead of general creditors, cf. above
Kui see on ette nähtud põhikirjas, võib aktsiaselts üldkoosoleku otsusel lasta välja võlakirju, mille omanikul on õigus vahetada võlakiri aktsia vastu (vahetusvõlakiri).
The public offer of securities (as provided under Article 18 of Law 216/74) other than shares, debt securities (including convertible debt securities) can only be made by Italian limited companies, foreign companies duly authorised, public bodies or companies belonging to local authorities whose assigned capital is not below ITL 2 billion.
