Upon conversion of bonds to shares, the entity issuing the instruments shall:

a. credit share capital account equivalent to the fair value of the shares issued.

b. pay the accrued interest due to the bondholders and derecognize the liabilityin its books.

c. record the receipt of cash from the bondholders and any gain or loss on conversion to profit or loss.

d. recognize any difference between the carrying amount of the bonds and the fair value of the shares issued to share premium.