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Message: Todays news release - what does this bit mean?

Hi folks,

I'm not a finance guy [just a simple engineer :-) ] and I'm not sure what this means.... 

"If the Exchange approves the conversion of the interest in common shares, IQ will hold just over 10% of the Company's capital."

Does this mean that IQ owns >10% of HPQ's shares, or >10% of the cash reserves?

Many thanks for replying,

A-G.

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