So the debt is secured but due for repayment in a few months. The lender has the ability to turn the debt into equity. Why would any lender convert their debt to equity in this company.
I've seen it all before and it is more likely in a few months the lender will call in the administrator to try to claw back its money. I have a sinking sick feeling after this "pleased to advise" report.
Ann: Secured Loan Facilities, page-2
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