Sept 3 (Reuters) - Conico Ltd CNJ.AX :
* Proposal to discharge debts by issuing securities CNJ.AX
* Says proposal to discharge most of conico's outstanding debts by issuing securities
* Says "company is proposing to convert the above debts into equity at an issue price of 0.8 cents per share"
* Agreed to settle $733,497 representing a large percentage of its long outstanding debts owed to its major shareholder
* Source text for Eikon ID:nASX8N02ks